Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 510,652 shares of the financial services provider’s stock after selling 90,862 shares during the quarter. Bank of New York Mellon Corp’s holdings in Veritex were worth $13,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after buying an additional 431 shares during the period. Franklin Resources Inc. raised its stake in shares of Veritex by 1.0% during the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock valued at $1,920,000 after purchasing an additional 701 shares during the period. USA Financial Formulas acquired a new position in shares of Veritex during the fourth quarter worth $32,000. KBC Group NV boosted its stake in shares of Veritex by 73.5% in the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,621 shares during the period. Finally, R Squared Ltd acquired a new stake in Veritex during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. DA Davidson cut their price objective on shares of Veritex from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Raymond James cut their price target on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 30th. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a research note on Thursday, January 30th. Finally, Stephens cut their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Veritex Stock Performance

Shares of VBTX stock opened at $24.23 on Thursday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.43 and a beta of 1.36. Veritex Holdings, Inc. has a one year low of $18.08 and a one year high of $31.62. The company’s 50-day simple moving average is $26.09 and its 200-day simple moving average is $26.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. Equities analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Friday, February 14th. Veritex’s dividend payout ratio is presently 41.03%.

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.