Tieton Capital Management LLC Has $5.58 Million Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Tieton Capital Management LLC lowered its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 264,638 shares of the financial services provider’s stock after selling 6,680 shares during the quarter. Veritex comprises 3.1% of Tieton Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Tieton Capital Management LLC owned about 0.49% of Veritex worth $5,581,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VBTX. Meeder Asset Management Inc. bought a new stake in shares of Veritex in the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Veritex during the first quarter valued at about $29,000. Cape Investment Advisory Inc. acquired a new stake in shares of Veritex in the 4th quarter valued at about $52,000. Quest Partners LLC bought a new stake in Veritex in the 4th quarter valued at about $76,000. Finally, CWM LLC raised its stake in Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after buying an additional 3,101 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Stock Performance

Shares of VBTX opened at $24.91 on Tuesday. The stock has a 50 day moving average of $23.56 and a 200 day moving average of $21.34. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Veritex Holdings, Inc. has a 12 month low of $15.93 and a 12 month high of $25.84. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.48 and a beta of 1.37.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts forecast that Veritex Holdings, Inc. will post 2.14 earnings per share for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VBTX. Piper Sandler boosted their price objective on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stephens upped their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. DA Davidson reiterated a “buy” rating and set a $29.00 price objective on shares of Veritex in a report on Wednesday, August 28th. Raymond James upgraded 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 report on Tuesday. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.