Louisiana State Employees Retirement System Has $692,000 Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Louisiana State Employees Retirement System reduced its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,300 shares of the financial services provider’s stock after selling 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Veritex were worth $692,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of VBTX. Vanguard Group Inc. lifted its position in Veritex by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after acquiring an additional 23,222 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after acquiring an additional 299,562 shares during the last quarter. Victory Capital Management Inc. lifted its position in Veritex by 1.9% during the second quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock worth $41,518,000 after acquiring an additional 37,617 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after acquiring an additional 235,154 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Veritex by 11.7% during the second quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock worth $17,446,000 after acquiring an additional 86,327 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 17th. Piper Sandler lifted their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Finally, DA Davidson lifted 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. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Insider Activity at Veritex

In related news, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 224,132 shares in the company, valued at $6,206,215.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by company insiders.

Veritex Stock Performance

Shares of NASDAQ:VBTX opened at $26.52 on Tuesday. The company’s 50 day simple moving average is $25.81 and its 200 day simple moving average is $22.98. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. Veritex Holdings, Inc. has a 1 year low of $17.43 and a 1 year high of $28.46.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, research analysts predict that Veritex Holdings, Inc. will post 2.14 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.02%. Veritex’s payout ratio is 51.28%.

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.