The Manufacturers Life Insurance Company Acquires 1,605 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

The Manufacturers Life Insurance Company grew its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 6.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,684 shares of the financial services provider’s stock after acquiring an additional 1,605 shares during the period. The Manufacturers Life Insurance Company’s holdings in Veritex were worth $563,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VBTX. Meeder Asset Management Inc. bought a new position in Veritex during the 2nd quarter worth $25,000. Fidelis Capital Partners LLC bought a new stake in Veritex in the first quarter valued at approximately $29,000. CWM LLC increased its position in Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 3,101 shares during the period. Point72 DIFC Ltd raised its holdings in Veritex by 16.5% during the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Veritex in the 1st quarter worth approximately $177,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VBTX. DA Davidson reissued a “buy” rating and set a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. Piper Sandler raised their price objective on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. 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 report on Tuesday, September 17th. Finally, Stephens lifted their price target on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Veritex Stock Performance

VBTX opened at $26.77 on Wednesday. Veritex Holdings, Inc. has a 1-year low of $15.93 and a 1-year high of $27.24. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 15.56 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $24.51 and its two-hundred day moving average price is $22.23.

Veritex (NASDAQ:VBTX) last issued 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). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The company had revenue of $106.81 million for the quarter, compared to the consensus estimate of $108.39 million. During the same quarter last year, the business posted $0.64 earnings per share. Veritex’s revenue was down 6.7% on a year-over-year basis. On average, analysts expect that Veritex Holdings, Inc. will post 2.13 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s payout ratio is 46.51%.

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.