Westwood Holdings Group Inc. Sells 68,993 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Westwood Holdings Group Inc. reduced its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,599,750 shares of the financial services provider’s stock after selling 68,993 shares during the period. Westwood Holdings Group Inc. owned 2.94% of Veritex worth $33,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Veritex by 12.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock worth $15,067,000 after acquiring an additional 73,700 shares during the last quarter. 1492 Capital Management LLC lifted its position in shares of Veritex by 152.9% in the 4th quarter. 1492 Capital Management LLC now owns 208,264 shares of the financial services provider’s stock worth $4,846,000 after purchasing an additional 125,912 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Veritex by 767.5% in the 4th quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock valued at $6,548,000 after purchasing an additional 245,106 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Veritex by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after buying an additional 52,933 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Veritex by 10.1% during the fourth quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock worth $12,734,000 after buying an additional 50,406 shares during the period. 88.31% of the stock is owned by institutional investors and hedge funds.

Veritex Stock Down 1.3 %

Shares of NASDAQ:VBTX opened at $26.14 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of 15.20 and a beta of 1.37. Veritex Holdings, Inc. has a 52-week low of $15.93 and a 52-week high of $26.72. The business’s 50 day simple moving average is $23.92 and its two-hundred day simple moving average is $21.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, research analysts forecast that Veritex Holdings, Inc. will post 2.14 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. Veritex’s dividend payout ratio (DPR) is currently 46.51%.

Analyst Ratings Changes

VBTX has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. DA Davidson reaffirmed a “buy” rating and set a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. Stephens lifted their target price on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. 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 report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Veritex currently has an average rating of “Moderate Buy” and an average price target of $28.00.

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.