Bank of New York Mellon Corp Decreases Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Bank of New York Mellon Corp reduced its stake in shares of 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. 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 owned 0.94% of Veritex worth $13,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of VBTX. Geode Capital Management LLC increased its stake in Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after purchasing an additional 18,185 shares in the last quarter. Barclays PLC grew its holdings in Veritex by 63.8% in the third quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock valued at $3,095,000 after purchasing an additional 45,787 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Veritex by 14.7% in the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Veritex by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock worth $16,618,000 after buying an additional 122,809 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Veritex by 4.6% in the 3rd quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock worth $1,279,000 after buying an additional 2,115 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VBTX has been the subject of several recent research reports. Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price for the company in a report on Thursday, January 30th. Raymond James dropped their price objective on shares of Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 30th. Stephens reduced their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, DA Davidson dropped their price target on Veritex from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Three equities research 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 MarketBeat.com, Veritex has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Veritex Trading Up 1.9 %

Shares of Veritex stock opened at $24.23 on Thursday. The firm has a market cap of $1.32 billion, a PE ratio of 12.43 and a beta of 1.36. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62. The business’s fifty day moving average is $26.09 and its two-hundred day moving average is $26.90.

Veritex (NASDAQ:VBTX) last released 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 return on equity of 7.59% and a net margin of 13.44%. Analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

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

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.