Geode Capital Management LLC Sells 13,270 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Geode Capital Management LLC reduced its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,280,696 shares of the financial services provider’s stock after selling 13,270 shares during the quarter. Geode Capital Management LLC owned about 2.35% of Veritex worth $34,792,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Veritex during the fourth quarter valued at $32,000. R Squared Ltd acquired a new stake in Veritex during the fourth quarter worth $45,000. GAMMA Investing LLC lifted its holdings in shares of Veritex by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 431 shares during the last quarter. KBC Group NV grew its position in Veritex by 73.5% in the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,621 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Veritex by 9.8% in the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 481 shares during the period. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Stock Performance

Shares of VBTX opened at $21.49 on Thursday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 11.02 and a beta of 1.11. 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 business’s 50 day moving average is $24.41 and its two-hundred day moving average is $26.55. Veritex Holdings, Inc. has a 52-week low of $18.74 and a 52-week high of $31.62.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (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%. Analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. Veritex’s payout ratio is 41.03%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens lowered their price target on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Raymond James downgraded Veritex from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. DA Davidson reissued a “buy” rating and set a $34.00 price objective on shares of Veritex in a research note on Monday, March 17th. Finally, Hovde Group raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.90.

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.