Hotchkis & Wiley Capital Management LLC Grows Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 512,460 shares of the financial services provider’s stock after acquiring an additional 54,040 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.94% of Veritex worth $13,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VBTX. Vanguard Group Inc. lifted its holdings in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after purchasing an additional 23,222 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Veritex by 9.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,014 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 2,162 shares during the period. CWM LLC grew its stake in Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 3,101 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Veritex by 2.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 114,757 shares of the financial services provider’s stock worth $2,420,000 after acquiring an additional 2,574 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in Veritex by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Veritex Price Performance

Shares of Veritex stock opened at $30.02 on Wednesday. The firm has a market capitalization of $1.64 billion, a PE ratio of 19.24 and a beta of 1.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 12 month low of $18.08 and a 12 month high of $31.62. The business’s 50-day moving average price is $27.86 and its 200-day moving average price is $24.37.

Veritex (NASDAQ:VBTX) last issued its quarterly 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. The business had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. Sell-side analysts forecast that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling at Veritex

In other Veritex news, Director John Sughrue sold 16,820 shares of the business’s 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 sale, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

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.