Wellington Management Group LLP Has $17.92 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Wellington Management Group LLP raised its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 13.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 680,766 shares of the financial services provider’s stock after buying an additional 78,082 shares during the period. Wellington Management Group LLP’s holdings in Veritex were worth $17,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VBTX. CWM LLC boosted its position in Veritex by 1,302.9% in the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after buying an additional 3,101 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Veritex by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock valued at $578,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Veritex by 60.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,831 shares of the financial services provider’s stock valued at $228,000 after buying an additional 4,099 shares in the last quarter. F M Investments LLC acquired a new position in Veritex in the second quarter valued at about $8,483,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Veritex during the second quarter worth approximately $460,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Trading Down 0.4 %

VBTX opened at $29.64 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 19.00 and a beta of 1.38. The firm has a 50 day simple moving average of $28.57 and a 200 day simple moving average of $24.82. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same period in the previous year, the firm posted $0.60 earnings per share. Veritex’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Announces Dividend

The company also recently announced 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 2.70%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s 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 company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VBTX shares. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. DA Davidson upped their target price 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. Piper Sandler upped their target price on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. 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 research report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

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.