Corebridge Financial Inc. Has $761,000 Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Corebridge Financial Inc. lowered its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,032 shares of the financial services provider’s stock after selling 2,187 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Veritex worth $761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of VBTX. Geode Capital Management LLC boosted its stake in shares of Veritex by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after acquiring an additional 18,185 shares during the period. Barclays PLC lifted its holdings in Veritex by 63.8% during the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock valued at $3,095,000 after purchasing an additional 45,787 shares during the last quarter. GAMMA Investing LLC boosted its position in Veritex by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 431 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Veritex by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock valued at $16,618,000 after purchasing an additional 122,809 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Veritex by 4.6% in the third quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock valued at $1,279,000 after purchasing an additional 2,115 shares during the period. Institutional investors own 88.31% of the company’s stock.

Veritex Stock Down 3.4 %

VBTX stock opened at $21.57 on Monday. Veritex Holdings, Inc. has a 52 week low of $18.74 and a 52 week high of $31.62. The business has a 50-day simple moving average of $25.49 and a 200 day simple moving average of $26.88. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.17 billion, a PE ratio of 11.06 and a beta of 1.10.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. Sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Friday, February 14th. Veritex’s dividend payout ratio (DPR) is presently 41.03%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VBTX. Raymond James downgraded shares of Veritex from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Stephens reduced their price objective on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a research note on Thursday, January 30th. Finally, DA Davidson restated a “buy” rating and issued a $34.00 price target on shares of Veritex in a research note on Monday, March 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Veritex has a consensus rating of “Moderate Buy” and an average price target of $30.90.

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.