JPMorgan Chase & Co. Has $16.62 Million Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

JPMorgan Chase & Co. raised its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 24.1% during the third quarter, HoldingsChannel.com reports. The firm owned 631,372 shares of the financial services provider’s stock after buying an additional 122,809 shares during the quarter. JPMorgan Chase & Co.’s holdings in Veritex were worth $16,618,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of VBTX. Dimensional Fund Advisors LP boosted its holdings in Veritex by 14.0% in 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 purchasing an additional 299,562 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Veritex by 0.5% in the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after buying an additional 9,611 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Veritex by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after acquiring an additional 18,185 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Veritex by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock valued at $17,446,000 after acquiring an additional 86,327 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock valued at $21,248,000 after acquiring an additional 325,569 shares in the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value 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. The trade was a 21.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VBTX has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. DA Davidson lifted 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. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Finally, Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Veritex Price Performance

Shares of Veritex stock opened at $24.44 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1.33 billion, a PE ratio of 15.67 and a beta of 1.38. The firm has a fifty day moving average price of $28.69 and a two-hundred day moving average price of $25.80. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts expect that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s payout ratio is presently 51.28%.

About Veritex

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.