IndexIQ Advisors LLC lessened its holdings in Veritex Holdings Inc (NASDAQ:VBTX) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,490 shares of the financial services provider’s stock after selling 10,629 shares during the quarter. IndexIQ Advisors LLC owned 0.06% of Veritex worth $976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in VBTX. Victory Capital Management Inc. grew its stake in Veritex by 768.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,476,412 shares of the financial services provider’s stock valued at $41,812,000 after purchasing an additional 1,306,320 shares during the period. Millennium Management LLC grew its stake in Veritex by 527.4% in the 3rd quarter. Millennium Management LLC now owns 1,007,168 shares of the financial services provider’s stock valued at $24,438,000 after purchasing an additional 846,632 shares during the period. Wedge Capital Management L L P NC bought a new position in Veritex in the 4th quarter valued at $9,661,000. Nuveen Asset Management LLC bought a new position in Veritex in the 2nd quarter valued at $5,448,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Veritex in the 4th quarter valued at $4,396,000. Hedge funds and other institutional investors own 79.41% of the company’s stock.
A number of brokerages have issued reports on VBTX. Zacks Investment Research downgraded Veritex from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. ValuEngine upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. BidaskClub upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. DA Davidson restated a “buy” rating on shares of Veritex in a research note on Thursday, January 30th. Finally, Raymond James increased their price target on Veritex from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.33.
Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). The firm had revenue of $77.00 million for the quarter, compared to the consensus estimate of $78.40 million. Veritex had a return on equity of 10.33% and a net margin of 22.19%. Equities analysts predict that Veritex Holdings Inc will post 2.34 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.17 per share. This is an increase from Veritex’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, February 5th. This represents a $0.68 annualized dividend and a dividend yield of 2.37%. Veritex’s dividend payout ratio is presently 29.69%.
In related news, Director Manuel J. Mehos sold 7,400 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $28.03, for a total transaction of $207,422.00. Following the sale, the director now owns 428,993 shares of the company’s stock, valued at approximately $12,024,673.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Malcolm Holland III sold 2,500 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $28.17, for a total value of $70,425.00. Following the sale, the chief executive officer now directly owns 104,111 shares in the company, valued at approximately $2,932,806.87. The disclosure for this sale can be found here. 3.92% of the stock is currently owned by corporate insiders.
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
Read More: What does the Dogs of the Dow mean?
Receive News & Ratings for Veritex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritex and related companies with MarketBeat.com's FREE daily email newsletter.