Rhumbline Advisers Has $3.95 Million Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Rhumbline Advisers reduced its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,085 shares of the financial services provider’s stock after selling 6,539 shares during the period. Rhumbline Advisers’ holdings in Veritex were worth $3,947,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Veritex by 48.7% during the fourth quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider’s stock valued at $1,294,000 after purchasing an additional 15,596 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Veritex during the fourth quarter valued at about $1,057,000. Y Intercept Hong Kong Ltd bought a new position in shares of Veritex during the fourth quarter valued at about $276,000. Principal Financial Group Inc. lifted its position in shares of Veritex by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 264,107 shares of the financial services provider’s stock valued at $7,173,000 after purchasing an additional 7,882 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Veritex by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 992 shares in the last quarter. 88.31% of the stock is owned by institutional investors.

Veritex Price Performance

Shares of Veritex stock opened at $24.47 on Friday. Veritex Holdings, Inc. has a 52-week low of $19.27 and a 52-week high of $31.62. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.55 and a beta of 1.02. The company has a fifty day moving average of $23.62 and a 200-day moving average of $25.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same quarter in the prior year, the company posted $0.53 EPS. Equities research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Veritex’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.60%. Veritex’s dividend payout ratio is 43.14%.

Analyst Ratings Changes

Several analysts have commented on the stock. DA Davidson lowered their price objective on shares of Veritex from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Raymond James lowered shares of Veritex from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price on shares of Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Finally, Stephens reissued an “equal weight” rating and issued a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Veritex has a consensus rating of “Moderate Buy” and an average price target of $30.25.

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.