Arcilia Acosta Sells 51,316 Shares of Veritex (NASDAQ:VBTX) Stock

Key Points

• Arcilia Acosta, a director at Veritex Holdings, sold 51,316 shares of the company's stock on July 24th for approximately $1.65 million, greatly reducing her ownership by 93.42%.
• Veritex recently announced a quarterly dividend of $0.22 per share, providing shareholders with an annualized yield of 2.9% amidst a growing interest from institutional investors.
• The company's stock price has fluctuated between a 12-month low of $20.37 and a high of $34.96, with analysts currently rating the stock as a moderate buy, setting an average target price of $33.25.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) Director Arcilia Acosta sold 51,316 shares of Veritex stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $32.22, for a total transaction of $1,653,401.52. Following the completion of the transaction, the director owned 3,617 shares of the company's stock, valued at $116,539.74. This trade represents a 93.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Arcilia Acosta also recently made the following trade(s):

• On Thursday, August 28th, Arcilia Acosta sold 3,617 shares of Veritex stock. The stock was sold at an average price of $34.33, for a total transaction of $124,171.61.
• On Tuesday, July 29th, Arcilia Acosta sold 7,279 shares of Veritex stock. The stock was sold at an average price of $32.14, for a total transaction of $233,947.06.

Veritex Trading Up 1.0%

VBTX stock traded up $0.30 during trading on Wednesday, hitting $30.26. The company had a trading volume of 25,682,800 shares, compared to its average volume of 2,680,762. 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 firm has a 50-day moving average price of $33.00 and a 200-day moving average price of $28.47. Veritex Holdings, Inc. has a 12 month low of $20.37 and a 12 month high of $34.96. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 14.41 and a beta of 1.06.

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 firm 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 Announces Dividend

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

Institutional Investors Weigh In On Veritex

Institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in Veritex during the 1st quarter worth about $29,215,000. MetLife Investment Management LLC lifted its position in Veritex by 1,813.1% during the 1st quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider's stock worth $15,353,000 after buying an additional 582,733 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in Veritex during the 1st quarter worth about $6,621,000. Millennium Management LLC lifted its position in Veritex by 22.7% during the 1st quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider's stock worth $29,598,000 after buying an additional 218,962 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Veritex by 361.4% during the 1st quarter. Deutsche Bank AG now owns 219,807 shares of the financial services provider's stock worth $5,489,000 after buying an additional 172,171 shares in the last quarter. 88.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 target price (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Veritex in a report on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. William Blair raised shares of Veritex to an "outperform" rating in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

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.

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