Wedge Capital Management L L P NC Purchases 2,574 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Wedge Capital Management L L P NC boosted its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 114,757 shares of the financial services provider’s stock after acquiring an additional 2,574 shares during the period. Wedge Capital Management L L P NC owned 0.21% of Veritex worth $2,420,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Mutual of America Capital Management LLC bought a new stake in shares of Veritex in the fourth quarter valued at approximately $221,000. Louisiana State Employees Retirement System bought a new stake in Veritex during the 4th quarter valued at $633,000. GAMMA Investing LLC purchased a new stake in shares of Veritex during the fourth quarter worth $60,000. Victory Capital Management Inc. boosted its holdings in shares of Veritex by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock worth $42,260,000 after acquiring an additional 93,753 shares during the period. Finally, Solutions 4 Wealth Ltd purchased a new position in shares of Veritex in the fourth quarter valued at $1,308,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VBTX. DA Davidson increased their price objective on Veritex from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Piper Sandler increased their price target on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Stephens increased their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.50.

Veritex Price Performance

Shares of VBTX traded up $0.87 during trading hours on Thursday, reaching $22.83. 335,272 shares of the company’s stock traded hands, compared to its average volume of 410,539. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $21.85 and its 200-day simple moving average is $20.75. The stock has a market cap of $1.24 billion, a PE ratio of 13.27 and a beta of 1.38. Veritex Holdings, Inc. has a 12 month low of $15.93 and a 12 month high of $25.84.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. Veritex’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Equities analysts expect that Veritex Holdings, Inc. will post 2.15 EPS for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.50%. Veritex’s dividend payout ratio is 46.51%.

Veritex Profile

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.