Thrivent Financial for Lutherans Cuts Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Thrivent Financial for Lutherans lessened its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,095 shares of the financial services provider’s stock after selling 4,729 shares during the quarter. Thrivent Financial for Lutherans owned 0.21% of Veritex worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in shares of Veritex in the second quarter valued at approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in Veritex in the first quarter valued at $29,000. CWM LLC boosted its position in shares of Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 3,101 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Veritex by 363,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 3,635 shares during the period. Finally, Clear Street Markets LLC purchased a new position in shares of Veritex in the 4th quarter valued at about $198,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analyst Upgrades and Downgrades

VBTX has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Stephens upped their price target 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 raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Tuesday, September 17th. Finally, DA Davidson reissued a “buy” rating and issued a $29.00 target price on shares of Veritex in a report on Wednesday, August 28th. Two 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $26.32 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day moving average price is $24.17 and its two-hundred day moving average price is $21.78. The stock has a market cap of $1.44 billion, a PE ratio of 15.30 and a beta of 1.37. Veritex Holdings, Inc. has a one year low of $15.93 and a one year high of $26.72.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $108.39 million. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. On average, analysts forecast that Veritex Holdings, Inc. will post 2.14 EPS for the current fiscal year.

Veritex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio is presently 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.