Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Maryland State Retirement & Pension System

Posted by Defense World Staff on Sep 29th, 2023

Maryland State Retirement & Pension System lowered its stake in Veritex Holdings, Inc. (NASDAQ:VBTX – Free Report) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,135 shares of the financial services provider’s stock after selling 623 shares during the period. Maryland State Retirement & Pension System’s holdings in Veritex were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of VBTX. JPMorgan Chase & Co. increased its holdings in shares of Veritex by 115.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,632,583 shares of the financial services provider’s stock valued at $45,842,000 after purchasing an additional 875,412 shares during the period. Wellington Management Group LLP grew its holdings in Veritex by 219.5% during the first quarter. Wellington Management Group LLP now owns 1,014,046 shares of the financial services provider’s stock worth $18,516,000 after acquiring an additional 696,629 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Veritex by 32.3% during the second 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 acquiring an additional 645,296 shares during the period. Millennium Management LLC grew its holdings in Veritex by 750.4% during the second quarter. Millennium Management LLC now owns 698,771 shares of the financial services provider’s stock worth $20,446,000 after acquiring an additional 616,600 shares during the period. Finally, First Trust Advisors LP grew its holdings in Veritex by 429.1% during the first quarter. First Trust Advisors LP now owns 673,690 shares of the financial services provider’s stock worth $12,302,000 after acquiring an additional 546,362 shares during the period. Institutional investors and hedge funds own 87.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VBTX. Hovde Group lowered Veritex from an “outperform” rating to a “market perform” rating and set a $20.50 price objective on the stock. in a report on Wednesday, July 5th. Stephens raised their price target on Veritex from $21.00 to $23.00 in a research report on Thursday, July 27th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Veritex presently has an average rating of “Hold” and a consensus target price of $28.38.

Read Our Latest Analysis on VBTX

Veritex Stock Down 1.0 %

VBTX opened at $17.61 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.04. The firm has a market cap of $956.33 million, a P/E ratio of 6.20 and a beta of 1.45. Veritex Holdings, Inc. has a 52 week low of $14.88 and a 52 week high of $33.12. The business’s fifty day simple moving average is $19.45 and its 200 day simple moving average is $18.60.

Veritex (NASDAQ:VBTX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). Veritex had a return on equity of 11.08% and a net margin of 22.77%. The business had revenue of $114.52 million during the quarter, compared to analyst estimates of $117.40 million. As a group, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.7 EPS for the current fiscal year.

Veritex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Wednesday, August 9th. Veritex’s dividend payout ratio is currently 28.17%.

About Veritex

(Free Report)

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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.