Geode Capital Management LLC Grows Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Geode Capital Management LLC raised its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,293,966 shares of the financial services provider’s stock after purchasing an additional 18,185 shares during the quarter. Geode Capital Management LLC’s holdings in Veritex were worth $34,064,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VBTX. Sippican Capital Advisors lifted its holdings in Veritex by 0.4% during the 3rd quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock valued at $2,612,000 after buying an additional 400 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Veritex by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 500 shares during the period. Point72 DIFC Ltd raised its stake in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 816 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Veritex in the second quarter valued at approximately $25,000. Finally, Harbor Capital Advisors Inc. grew its stake in Veritex by 9.0% in the third quarter. Harbor Capital Advisors Inc. now owns 16,957 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 1,405 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Performance

Shares of Veritex stock opened at $27.90 on Thursday. Veritex Holdings, Inc. has a one year low of $18.08 and a one year high of $31.62. The company has a market capitalization of $1.52 billion, a PE ratio of 17.88 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $28.90 and a two-hundred day simple moving average of $25.27.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating 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 company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Veritex’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.87%. Veritex’s dividend payout ratio (DPR) is 51.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. DA Davidson increased their target price on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. 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 report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Insider Activity at Veritex

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