Wedge Capital Management L L P NC Has $2.44 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Wedge Capital Management L L P NC reduced its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,535 shares of the financial services provider’s stock after selling 22,222 shares during the period. Wedge Capital Management L L P NC’s holdings in Veritex were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in VBTX. Meeder Asset Management Inc. acquired a new stake in Veritex during the 2nd quarter worth approximately $25,000. Fidelis Capital Partners LLC bought a new position in shares of Veritex during the first quarter valued at $29,000. CWM LLC lifted its holdings in shares of Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 3,101 shares during the period. Point72 DIFC Ltd grew its stake in shares of Veritex by 16.5% in the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 816 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Veritex in the first quarter worth $177,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stephens lifted their target price on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. DA Davidson reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Veritex in a research note on Wednesday, August 28th. Piper Sandler increased their target price on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Veritex presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Veritex Stock Up 2.4 %

Shares of Veritex stock opened at $26.77 on Wednesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 15.56 and a beta of 1.37. The stock’s 50-day moving average is $24.51 and its 200 day moving average is $22.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Veritex Holdings, Inc. has a one year low of $15.93 and a one year high of $27.24.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $106.81 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.64 earnings per share. Equities research analysts anticipate that Veritex Holdings, Inc. will post 2.13 EPS for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio (DPR) is currently 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.