Public Employees Retirement System of Ohio Reduces Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Public Employees Retirement System of Ohio reduced its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,655 shares of the financial services provider’s stock after selling 10,677 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.16% of Veritex worth $2,254,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VBTX. Dimensional Fund Advisors LP boosted its stake in shares of Veritex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock valued at $51,566,000 after purchasing an additional 299,562 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Veritex by 0.5% in the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after buying an additional 9,611 shares during the period. American Century Companies Inc. boosted its position in Veritex by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock valued at $17,446,000 after acquiring an additional 86,327 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Veritex by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after acquiring an additional 325,569 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Veritex by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider’s stock worth $19,289,000 after acquiring an additional 12,286 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com raised 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. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Finally, Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. Three investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.40.

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at $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 available at the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of Veritex 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 sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. This trade 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.

Veritex Price Performance

VBTX opened at $29.11 on Wednesday. The firm has a market cap of $1.59 billion, a PE ratio of 18.66 and a beta of 1.38. The stock has a 50-day moving average price of $28.75 and a 200-day moving average price of $25.01. Veritex Holdings, Inc. has a 1 year low of $18.08 and a 1 year high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $110.22 million. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Veritex Holdings, Inc. will post 2.17 earnings per share for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.75%. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Veritex Company 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.