Geode Capital Management LLC Acquires 18,185 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Geode Capital Management LLC grew its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,293,966 shares of the financial services provider’s stock after acquiring an additional 18,185 shares during the period. Geode Capital Management LLC owned 2.38% of Veritex worth $34,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Veritex in the 2nd quarter worth $25,000. Systematic Financial Management LP bought a new stake in Veritex during the third quarter valued at about $98,000. Point72 DIFC Ltd increased its position in Veritex by 16.5% in the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after buying an additional 816 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Veritex by 295.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after buying an additional 5,559 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Veritex during the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Stock Down 1.0 %

Shares of VBTX stock opened at $27.90 on Thursday. The stock has a market cap of $1.52 billion, a P/E ratio of 17.88 and a beta of 1.38. The company’s fifty day simple moving average is $28.90 and its two-hundred day simple moving average is $25.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 52 week low of $18.08 and a 52 week high of $31.62.

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

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s payout ratio is 51.28%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the business’s 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 sale, the chief executive officer now directly owns 224,132 shares in the company, valued at $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

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.