Connor Clark & Lunn Investment Management Ltd. Buys 9,972 Shares of Veritex Holdings, Inc. $VBTX

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 15.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,156 shares of the financial services provider’s stock after buying an additional 9,972 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Veritex worth $1,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Veritex in the 1st quarter worth approximately $28,000. GAMMA Investing LLC lifted its position in shares of Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,011 shares during the last quarter. Strs Ohio bought a new position in shares of Veritex during the 1st quarter worth $135,000. Quarry LP increased its holdings in Veritex by 327.6% in the 1st quarter. Quarry LP now owns 6,534 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 5,006 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Veritex by 12.6% in the 1st quarter. EP Wealth Advisors LLC now owns 9,568 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 1,074 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Trading Up 1.0%

Veritex stock opened at $30.26 on Monday. The stock has a market cap of $1.66 billion, a P/E ratio of 14.41 and a beta of 1.06. Veritex Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $34.96. The firm’s fifty day moving average price is $31.94 and its 200-day moving average price is $29.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96.

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

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.9%. Veritex’s payout ratio is presently 41.90%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VBTX shares. Keefe, Bruyette & Woods increased their target price on shares of Veritex from $30.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Veritex in a report on Wednesday, October 8th. Finally, DA Davidson raised their price target on Veritex from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Insider Buying and Selling

In related news, Director Arcilia Acosta sold 3,617 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $34.33, for a total value of $124,171.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angela Harper sold 2,527 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $33.68, for a total value of $85,109.36. Following the sale, the executive vice president owned 53,991 shares in the company, valued at $1,818,416.88. The trade was a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.30% of the stock is owned by insiders.

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.