Sei Investments Co. Trims Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Sei Investments Co. cut its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 373,253 shares of the financial services provider’s stock after selling 39,385 shares during the period. Sei Investments Co. owned about 0.69% of Veritex worth $10,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in VBTX. USA Financial Formulas bought a new stake in shares of Veritex in the fourth quarter valued at about $32,000. R Squared Ltd purchased a new position in Veritex during the 4th quarter valued at about $45,000. GAMMA Investing LLC raised 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 valued at $91,000 after purchasing an additional 431 shares in the last quarter. Systematic Financial Management LP purchased a new stake in shares of Veritex in the 3rd quarter worth approximately $98,000. Finally, KBC Group NV boosted its stake in shares of Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,621 shares in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VBTX has been the subject of a number of recent research reports. DA Davidson reissued a “buy” rating and issued a $34.00 price objective on shares of Veritex in a research note on Monday, March 17th. Raymond James reduced their price target on Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 30th. Stephens dropped their price objective on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Finally, Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Veritex Stock Down 1.4 %

Shares of VBTX stock opened at $24.48 on Friday. The stock’s fifty day moving average price is $25.78 and its 200 day moving average price is $26.90. Veritex Holdings, Inc. has a 1-year low of $18.74 and a 1-year high of $31.62. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 12.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. On average, research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.27%. Veritex’s payout ratio is 41.03%.

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.