Sei Investments Co. Grows Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Sei Investments Co. lifted its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 16.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,036 shares of the financial services provider’s stock after buying an additional 33,339 shares during the quarter. Sei Investments Co. owned approximately 0.43% of Veritex worth $4,894,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in Veritex by 767.5% in the 4th quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock worth $6,548,000 after purchasing an additional 245,106 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Veritex by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock valued at $87,777,000 after purchasing an additional 52,933 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after buying an additional 235,154 shares in the last quarter. Wellington Management Group LLP grew its position in Veritex by 10.1% during the fourth quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock valued at $12,734,000 after buying an additional 50,406 shares during the period. Finally, Quantbot Technologies LP increased its holdings in Veritex by 1,599.8% in the first quarter. Quantbot Technologies LP now owns 39,232 shares of the financial services provider’s stock valued at $804,000 after buying an additional 36,924 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VBTX shares. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. Piper Sandler upped their price target on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Stephens lifted their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, DA Davidson reiterated a “buy” rating and set a $29.00 price objective on shares of Veritex in a research note on Wednesday, August 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Veritex Stock Performance

NASDAQ:VBTX opened at $25.29 on Wednesday. The company has a market cap of $1.38 billion, a P/E ratio of 14.70 and a beta of 1.37. Veritex Holdings, Inc. has a twelve month low of $15.93 and a twelve month high of $26.72. The company’s 50-day moving average price is $24.19 and its 200-day moving average price is $21.83. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The business had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. During the same period last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, sell-side analysts forecast that Veritex Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.16%. The ex-dividend date was Friday, August 9th. Veritex’s payout ratio is currently 46.51%.

About Veritex

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.