Tieton Capital Management LLC Sells 6,680 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Tieton Capital Management LLC reduced its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 264,638 shares of the financial services provider’s stock after selling 6,680 shares during the period. Veritex accounts for approximately 3.1% of Tieton Capital Management LLC’s portfolio, making the stock its 16th largest holding. Tieton Capital Management LLC’s holdings in Veritex were worth $5,581,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Veritex by 12.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock valued at $15,067,000 after purchasing an additional 73,700 shares during the period. 1492 Capital Management LLC raised its holdings in Veritex by 152.9% during the 4th quarter. 1492 Capital Management LLC now owns 208,264 shares of the financial services provider’s stock valued at $4,846,000 after acquiring an additional 125,912 shares during the period. Hsbc Holdings PLC lifted its position in shares of Veritex by 767.5% during the fourth quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock worth $6,548,000 after acquiring an additional 245,106 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Veritex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after acquiring an additional 52,933 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in shares of Veritex by 16.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after purchasing an additional 235,154 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Up 0.4 %

VBTX stock opened at $24.91 on Tuesday. The company’s 50 day moving average is $23.56 and its 200 day moving average is $21.34. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 14.48 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Veritex Holdings, Inc. has a 1-year low of $15.93 and a 1-year high of $25.84.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. Veritex’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Sell-side analysts predict that Veritex Holdings, Inc. will post 2.14 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.21%. Veritex’s payout ratio is 46.51%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stephens increased their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Piper Sandler upped their price target on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. DA Davidson restated a “buy” rating and issued a $29.00 price objective on shares of Veritex in a research report on Wednesday, August 28th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Veritex currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.