Meeder Asset Management Inc. Raises Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Meeder Asset Management Inc. raised its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 319.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,885 shares of the financial services provider’s stock after buying an additional 3,720 shares during the period. Meeder Asset Management Inc.’s holdings in Veritex were worth $129,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new position in Veritex in the third quarter valued at about $276,000. Stieven Capital Advisors L.P. increased its holdings in Veritex by 39.0% in the third quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider’s stock valued at $14,782,000 after buying an additional 157,571 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Veritex during the 3rd quarter worth approximately $215,000. Empowered Funds LLC increased its stake in shares of Veritex by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 145,638 shares of the financial services provider’s stock worth $3,833,000 after purchasing an additional 7,370 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Veritex by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after purchasing an additional 9,611 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Down 0.3 %

Shares of NASDAQ VBTX opened at $28.98 on Thursday. Veritex Holdings, Inc. has a 1 year low of $18.08 and a 1 year high of $30.86. The firm’s 50 day moving average price is $26.98 and its 200 day moving average price is $23.73. The firm has a market cap of $1.58 billion, a P/E ratio of 18.58 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same quarter last year, the business earned $0.60 earnings per share. Veritex’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 dividend yield of 2.76%. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Analysts Set New Price Targets

VBTX has been the subject of a number of recent research reports. Stephens raised their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. DA Davidson raised their price objective on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, September 17th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Insider Buying and Selling at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the transaction, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

Veritex Company 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.