Veritex Holdings Inc (VBTX) Shares Bought by Legal & General Group Plc
Legal & General Group Plc increased its holdings in shares of Veritex Holdings Inc (NASDAQ:VBTX) by 1,223.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,314 shares of the financial services provider’s stock after acquiring an additional 47,438 shares during the period. Legal & General Group Plc’s holdings in Veritex were worth $1,101,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Advisors LLC grew its position in Veritex by 55.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 17,161 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 6,100 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Veritex during the 3rd quarter worth approximately $250,000. Marshall Wace LLP bought a new stake in Veritex during the 3rd quarter worth approximately $7,735,000. Mendon Capital Advisors Corp grew its position in Veritex by 112.8% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,591,930 shares of the financial services provider’s stock worth $34,035,000 after acquiring an additional 843,754 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Veritex by 26.3% during the 3rd quarter. Renaissance Technologies LLC now owns 74,500 shares of the financial services provider’s stock worth $2,105,000 after acquiring an additional 15,500 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.
Shares of VBTX opened at $25.94 on Wednesday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.48 and a beta of 1.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. Veritex Holdings Inc has a 52 week low of $20.34 and a 52 week high of $33.08.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a $0.125 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.50 dividend on an annualized basis and a yield of 1.93%. Veritex’s payout ratio is 27.17%.
VBTX has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th. Stephens set a $31.00 price objective on Veritex and gave the company a “buy” rating in a research report on Tuesday, January 29th. BidaskClub upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Finally, ValuEngine lowered Veritex from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.25.
In related news, Director Gordon Huddleston purchased 1,000 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were bought at an average price of $26.04 per share, with a total value of $26,040.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO C Malcolm Holland III sold 3,750 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $28.11, for a total value of $105,412.50. Following the completion of the transaction, the chief executive officer now directly owns 104,277 shares in the company, valued at approximately $2,931,226.47. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.
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Veritex Company Profile
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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