Cornercap Investment Counsel Inc. Acquires Shares of 26,856 Veritex Holdings, Inc. (NASDAQ:VBTX)

Cornercap Investment Counsel Inc. bought a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 26,856 shares of the financial services provider’s stock, valued at approximately $566,000.

A number of other large investors have also modified their holdings of VBTX. Vanguard Group Inc. grew its holdings in Veritex by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after acquiring an additional 23,222 shares during the period. Victory Capital Management Inc. grew its stake in shares of Veritex by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock worth $41,518,000 after purchasing an additional 37,617 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Veritex by 19.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after purchasing an additional 305,980 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Veritex by 16.4% in the 1st 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. Finally, First Trust Advisors LP lifted its stake in shares of Veritex by 23.2% in the fourth quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock valued at $30,322,000 after purchasing an additional 245,133 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VBTX has been the topic of several recent analyst reports. Stephens upped their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. DA Davidson reaffirmed a “buy” rating and set a $29.00 price objective on shares of Veritex in a report on Wednesday, August 28th. Finally, Piper Sandler upped their target price on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Veritex has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Veritex Stock Up 2.7 %

VBTX stock opened at $24.80 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $23.47 and its 200-day simple moving average is $21.28. Veritex Holdings, Inc. has a 12 month low of $15.93 and a 12 month high of $25.84. The firm has a market capitalization of $1.35 billion, a PE ratio of 14.42 and a beta of 1.37.

Veritex (NASDAQ:VBTX) last announced its 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). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The company had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. During the same quarter last year, the company posted $0.64 EPS. Veritex’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities analysts expect that Veritex Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, August 9th. Veritex’s dividend payout ratio is presently 46.51%.

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.