Franklin Resources Inc. Has $1.92 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Franklin Resources Inc. increased its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,421 shares of the financial services provider’s stock after purchasing an additional 701 shares during the quarter. Franklin Resources Inc.’s holdings in Veritex were worth $1,920,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Veritex by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after purchasing an additional 18,185 shares during the last quarter. Barclays PLC boosted its position in shares of Veritex by 63.8% during the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock worth $3,095,000 after acquiring an additional 45,787 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Veritex in the 3rd quarter valued at $404,000. Wellington Management Group LLP raised its holdings in shares of Veritex by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider’s stock worth $17,918,000 after buying an additional 78,082 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Veritex by 4.6% during the 3rd quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock worth $1,279,000 after buying an additional 2,115 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analysts Set New Price Targets

VBTX has been the subject of several research analyst reports. Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. DA Davidson upped their price target on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Insiders Place Their Bets

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Sughrue sold 16,820 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Veritex Trading Down 0.3 %

Shares of VBTX stock opened at $27.82 on Friday. Veritex Holdings, Inc. has a 1-year low of $18.08 and a 1-year high of $31.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 17.83 and a beta of 1.38. The stock has a 50-day moving average of $28.91 and a 200-day moving average of $25.31.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. During the same quarter in the previous year, the company earned $0.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.88%. Veritex’s dividend payout ratio (DPR) is currently 51.28%.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.