Angela Harper Sells 2,527 Shares of Veritex (NASDAQ:VBTX) Stock

Key Points

• Angela Harper, EVP of Veritex Holdings, Inc., sold 2,527 shares at an average price of $33.68, decreasing her stake by 4.47%.
• Veritex's stock recently reached $30.26, with a market cap of $1.66 billion and a PE ratio of 14.41.
• The company declared a quarterly dividend of $0.22, representing an annual yield of 2.9% with a payout ratio of 41.90%.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) EVP Angela Harper sold 2,527 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $33.68, for a total transaction of $85,109.36. Following the completion of the transaction, the executive vice president owned 53,991 shares of the company's stock, valued at approximately $1,818,416.88. This trade represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Veritex Price Performance

Shares of NASDAQ:VBTX traded up $0.30 during trading on Wednesday, reaching $30.26. 25,682,800 shares of the company's stock traded hands, compared to its average volume of 2,680,762. The firm has a market cap of $1.66 billion, a PE ratio of 14.41 and a beta of 1.06. Veritex Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $34.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The company has a 50-day simple moving average of $33.00 and a 200-day simple moving average of $28.47.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Thursday, March 3rd. The financial services provider reported $0.64 earnings per share for the quarter. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The company had revenue of $64.03 million during the quarter. As a group, analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.9%. Veritex's dividend payout ratio is presently 41.90%.

Analyst Upgrades and Downgrades

VBTX has been the subject of a number of recent research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Veritex in a report on Wednesday, October 8th. Piper Sandler restated a "neutral" rating and issued a $34.00 target price (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. William Blair raised Veritex to an "outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Veritex in a research note on Monday, July 14th. They issued a "buy" rating on the stock. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Veritex presently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

Institutional Investors Weigh In On Veritex

A number of large investors have recently modified their holdings of VBTX. Smartleaf Asset Management LLC lifted its position in shares of Veritex by 50.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,042 shares of the financial services provider's stock worth $27,000 after purchasing an additional 350 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Veritex during the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Veritex by 260.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the financial services provider's stock worth $41,000 after acquiring an additional 1,135 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock worth $118,000 after acquiring an additional 1,011 shares in the last quarter. Finally, Strs Ohio acquired a new position in Veritex in the first quarter valued at approximately $135,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

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.

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