Illinois Municipal Retirement Fund Sells 2,886 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Illinois Municipal Retirement Fund trimmed its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 30,049 shares of the financial services provider’s stock after selling 2,886 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Veritex were worth $699,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC grew its position in Veritex by 33.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 114,521 shares of the financial services provider’s stock worth $2,665,000 after acquiring an additional 28,631 shares in the last quarter. Sippican Capital Advisors lifted its stake in shares of Veritex by 27.2% in the fourth quarter. Sippican Capital Advisors now owns 89,300 shares of the financial services provider’s stock worth $2,078,000 after buying an additional 19,085 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Veritex in the fourth quarter worth $633,000. Mutual of America Capital Management LLC acquired a new stake in shares of Veritex in the fourth quarter worth $221,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Veritex in the fourth quarter worth $413,000. 88.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens restated an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Piper Sandler boosted their price objective on shares of Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.38.

Veritex Price Performance

NASDAQ:VBTX opened at $19.90 on Tuesday. The stock has a market cap of $1.08 billion, a P/E ratio of 11.57 and a beta of 1.34. Veritex Holdings, Inc. has a one year low of $14.88 and a one year high of $24.46. The company has a fifty day moving average price of $19.84 and a 200 day moving average price of $20.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same quarter in the previous year, the company earned $0.79 earnings per share. Analysts anticipate that Veritex Holdings, Inc. will post 2.19 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s dividend payout ratio is 46.51%.

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.