State of New Jersey Common Pension Fund D Has $2.04 Million Stake in Veritex Holdings, Inc. $VBTX

State of New Jersey Common Pension Fund D raised its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 78,281 shares of the financial services provider’s stock after purchasing an additional 3,271 shares during the period. State of New Jersey Common Pension Fund D owned 0.14% of Veritex worth $2,043,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its position in shares of Veritex by 16.8% in the 2nd quarter. CWM LLC now owns 16,139 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 2,316 shares during the period. KLP Kapitalforvaltning AS lifted its position in shares of Veritex by 28.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,612 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 2,800 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of Veritex by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,699 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 643 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Veritex by 6.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 32,295 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 2,087 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Veritex by 28.9% in the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Veritex Stock Performance

Shares of VBTX stock opened at $30.26 on Thursday. The firm has a market capitalization of $1.66 billion, a PE ratio of 14.41 and a beta of 1.06. The firm has a fifty day simple moving average of $32.81 and a two-hundred day simple moving average of $28.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 12 month low of $20.37 and a 12 month high of $34.96.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Thursday, March 3rd. The financial services provider reported $0.64 EPS for the quarter. The business had revenue of $64.03 million during the quarter. Veritex had a net margin of 14.83% and a return on equity of 7.55%. Analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, September 16th. Veritex’s payout ratio is currently 41.90%.

Analysts Set New Price Targets

VBTX has been the subject of several research analyst reports. William Blair upgraded shares of Veritex to an “outperform” rating in a research note on Monday, July 14th. Piper Sandler reiterated a “neutral” rating and issued a $34.00 price objective (up previously from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on shares of Veritex in a research note on Monday, July 14th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Veritex in a research note on Wednesday, October 8th. Finally, DA Davidson lifted their price objective on shares of Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Veritex has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Insider Activity

In other Veritex news, Director Arcilia Acosta sold 3,617 shares of Veritex stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $34.33, for a total transaction of $124,171.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Sughrue sold 5,669 shares of Veritex stock in a transaction on Friday, August 15th. The stock was sold at an average price of $32.00, for a total transaction of $181,408.00. Following the transaction, the director directly owned 50,652 shares in the company, valued at $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,033 shares of company stock valued at $612,199 over the last quarter. 4.30% of the stock is owned by insiders.

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.