Public Sector Pension Investment Board decreased its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 24.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,077 shares of the financial services provider’s stock after selling 32,320 shares during the period. Public Sector Pension Investment Board owned about 0.20% of Veritex worth $3,579,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. South Dakota Investment Council increased its holdings in shares of Veritex by 0.3% in the 1st quarter. South Dakota Investment Council now owns 110,832 shares of the financial services provider’s stock worth $3,626,000 after buying an additional 293 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Veritex by 6.0% in the 2nd quarter. Profund Advisors LLC now owns 6,687 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 377 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Veritex by 6.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,600 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 391 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Veritex by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 13,412 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 401 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Veritex by 1.0% in the 1st quarter. Stifel Financial Corp now owns 42,720 shares of the financial services provider’s stock valued at $1,398,000 after purchasing an additional 432 shares in the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of VBTX opened at $39.97 on Thursday. The stock has a market capitalization of $1.98 billion, a P/E ratio of 18.59 and a beta of 1.75. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $36.55 and a two-hundred day simple moving average of $35.17. Veritex Holdings, Inc. has a twelve month low of $18.08 and a twelve month high of $41.22.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.00%. This is a boost from Veritex’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, August 4th. Veritex’s dividend payout ratio (DPR) is currently 51.28%.
A number of brokerages have recently issued reports on VBTX. Piper Sandler upped their price objective on shares of Veritex from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, September 22nd. Zacks Investment Research raised shares of Veritex from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, August 13th. Raymond James upped their price objective on shares of Veritex from $42.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 22nd. Finally, DA Davidson increased their price target on shares of Veritex from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, September 22nd. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $42.50.
In other news, CEO C Malcolm Holland III sold 751 shares of the firm’s stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $35.00, for a total value of $26,285.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arcilia Acosta bought 15,000 shares of the company’s stock in a transaction dated Tuesday, September 7th. The stock was bought at an average cost of $35.85 per share, with a total value of $537,750.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 21,250 shares of company stock valued at $745,454. Corporate insiders own 4.72% of the company’s stock.
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.
Further Reading: The risks of owning bonds
Want to see what other hedge funds are holding VBTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veritex Holdings, Inc. (NASDAQ:VBTX).
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.