Intech Investment Management LLC Grows Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Intech Investment Management LLC boosted its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 16.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,391 shares of the financial services provider’s stock after buying an additional 3,671 shares during the period. Intech Investment Management LLC’s holdings in Veritex were worth $668,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sippican Capital Advisors lifted its holdings in shares of Veritex by 0.4% in the 3rd quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock worth $2,612,000 after acquiring an additional 400 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Veritex by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 500 shares during the period. Point72 DIFC Ltd lifted its stake in Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 816 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Veritex during the second quarter worth $25,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Veritex by 9.0% in the third quarter. Harbor Capital Advisors Inc. now owns 16,957 shares of the financial services provider’s stock valued at $446,000 after buying an additional 1,405 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $30.41 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day moving average price is $27.69 and its two-hundred day moving average price is $24.22. The stock has a market cap of $1.66 billion, a PE ratio of 19.49 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.

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

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. Veritex’s payout ratio is currently 51.28%.

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.