Thrivent Financial for Lutherans Has $1.12 Million Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Thrivent Financial for Lutherans decreased its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 61.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,709 shares of the financial services provider’s stock after selling 69,386 shares during the period. Thrivent Financial for Lutherans’ holdings in Veritex were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VBTX. Vanguard Group Inc. boosted its stake in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after purchasing an additional 23,222 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Veritex by 9.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,014 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 2,162 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Veritex by 13.1% in the first quarter. Public Employees Retirement System of Ohio now owns 111,967 shares of the financial services provider’s stock worth $2,294,000 after acquiring an additional 12,959 shares during the last quarter. CWM LLC increased its position in Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 3,101 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in Veritex by 2.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 114,757 shares of the financial services provider’s stock valued at $2,420,000 after purchasing an additional 2,574 shares during the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Veritex Stock Down 0.2 %

NASDAQ VBTX opened at $30.41 on Monday. Veritex Holdings, Inc. has a 1-year low of $18.08 and a 1-year high of $31.62. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.49 and a beta of 1.36. The stock’s 50 day moving average is $27.69 and its two-hundred day moving average is $24.24. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same quarter in the previous year, the firm earned $0.60 EPS. Veritex’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that Veritex Holdings, Inc. will post 2.17 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s payout ratio is 51.28%.

Analysts Set New Price Targets

Several research firms have issued reports on VBTX. Piper Sandler raised their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, DA Davidson boosted their price objective on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.40.

Insider Buying and Selling

In other news, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. The trade was a 21.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

About Veritex

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.