Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,280,696 shares of the financial services provider’s stock after selling 13,270 shares during the quarter. Geode Capital Management LLC’s holdings in Veritex were worth $34,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Veritex by 21.8% during the 4th quarter. Franklin Resources Inc. now owns 89,422 shares of the financial services provider’s stock valued at $2,429,000 after acquiring an additional 16,001 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Veritex by 9.8% during the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 481 shares during the period. Schroder Investment Management Group acquired a new stake in Veritex in the fourth quarter worth about $11,172,000. JPMorgan Chase & Co. grew its position in Veritex by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 712,727 shares of the financial services provider’s stock valued at $19,358,000 after buying an additional 81,355 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Veritex by 3.2% during the 4th quarter. Prudential Financial Inc. now owns 293,648 shares of the financial services provider’s stock valued at $7,975,000 after buying an additional 9,115 shares during the period. Institutional investors own 88.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on VBTX. DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of Veritex in a report on Monday, March 17th. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target on the stock in a research report on Thursday, January 30th. Raymond James lowered Veritex from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Stephens lowered their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.90.

Veritex Stock Down 0.3 %

Veritex stock opened at $21.49 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 1-year low of $18.74 and a 1-year high of $31.62. The firm’s fifty day simple moving average is $24.41 and its 200-day simple moving average is $26.55. The company has a market capitalization of $1.17 billion, a P/E ratio of 11.02 and a beta of 1.11.

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

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.72%. Veritex’s payout ratio is currently 41.03%.

Veritex 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.