Fisher Asset Management LLC Invests $655,000 in Veritex Holdings, Inc. (NASDAQ:VBTX)

Posted by Defense World Staff on Apr 29th, 2023

Fisher Asset Management LLC purchased a new position in Veritex Holdings, Inc. (NASDAQ:VBTX – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,334 shares of the financial services provider’s stock, valued at approximately $655,000.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Veritex by 4.7% in the 1st quarter. BlackRock Inc. now owns 7,377,556 shares of the financial services provider’s stock worth $281,602,000 after buying an additional 328,369 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Veritex by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,578,225 shares of the financial services provider’s stock worth $95,145,000 after buying an additional 35,191 shares during the last quarter. State Street Corp increased its holdings in shares of Veritex by 2.8% in the 2nd quarter. State Street Corp now owns 2,657,735 shares of the financial services provider’s stock worth $77,765,000 after buying an additional 72,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Veritex by 32.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,641,794 shares of the financial services provider’s stock worth $77,299,000 after buying an additional 645,296 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Veritex by 22.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,376,826 shares of the financial services provider’s stock valued at $36,610,000 after purchasing an additional 256,310 shares in the last quarter. Institutional investors own 85.86% of the company’s stock.

Insider Buying and Selling at Veritex

In other news, Director Gregory B. Morrison purchased 1,420 shares of the company’s stock in a transaction on Friday, April 28th. The stock was acquired at an average price of $17.71 per share, with a total value of $25,148.20. Following the transaction, the director now directly owns 25,302 shares of the company’s stock, valued at approximately $448,098.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Pat S. Bolin bought 10,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $17.52 per share, with a total value of $175,200.00. Following the transaction, the director now owns 34,668 shares in the company, valued at approximately $607,383.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory B. Morrison bought 1,420 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was bought at an average cost of $17.71 per share, with a total value of $25,148.20. Following the completion of the transaction, the director now owns 25,302 shares in the company, valued at approximately $448,098.42. The disclosure for this purchase can be found here. Insiders bought 16,172 shares of company stock valued at $320,195 in the last quarter. Company insiders own 3.38% of the company’s stock.

Veritex Stock Performance

Shares of VBTX opened at $17.21 on Friday. The stock has a market capitalization of $933.30 million, a P/E ratio of 6.24 and a beta of 1.43. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $20.69 and a two-hundred day simple moving average of $26.33. Veritex Holdings, Inc. has a twelve month low of $16.42 and a twelve month high of $35.22.

Veritex (NASDAQ:VBTX – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.13). The firm had revenue of $120.40 million for the quarter, compared to analysts’ expectations of $121.22 million. Veritex had a net margin of 25.64% and a return on equity of 10.87%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. On average, research analysts anticipate that Veritex Holdings, Inc. will post 2.98 EPS for the current year.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 10th. This represents a $0.80 annualized dividend and a yield of 4.65%. Veritex’s payout ratio is currently 28.99%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Friday. Piper Sandler cut their price objective on shares of Veritex from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 26th. Stephens cut their price objective on shares of Veritex from $33.00 to $31.00 in a research note on Thursday, January 26th. Finally, Raymond James cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 5th.

Veritex Profile

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Veritex Holdings, Inc engages in the provision of commercial banking products and services to small to medium-sized businesses and professionals. It offers personal and business banking products, mortgages, and treasury services. The company was founded by Charles Malcolm Holland III in June 2009 and is headquartered in Dallas, TX.