PharVision Advisers LLC Makes New $508,000 Investment in Veritex Holdings, Inc. $VBTX

Key Points

• PharVision Advisers LLC purchased 20,340 shares of Veritex Holdings, Inc., worth approximately $508,000, making it the 15th largest position in their portfolio.
• Several hedge funds, including Price T Rowe Associates Inc. and Algert Global LLC, have increased their stakes in Veritex during the last quarter, indicating strong institutional interest.
• Veritex recently announced a quarterly dividend of $0.22 per share, reflecting a 2.6% yield and a payout ratio of 41.90%.

PharVision Advisers LLC bought a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,340 shares of the financial services provider's stock, valued at approximately $508,000. Veritex accounts for 0.7% of PharVision Advisers LLC's portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of VBTX. Opal Wealth Advisors LLC bought a new stake in shares of Veritex during the first quarter valued at approximately $31,000. Quarry LP raised its position in shares of Veritex by 327.6% during the first quarter. Quarry LP now owns 6,534 shares of the financial services provider's stock valued at $163,000 after buying an additional 5,006 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Veritex during the first quarter valued at approximately $227,000. EP Wealth Advisors LLC bought a new stake in shares of Veritex during the fourth quarter valued at approximately $231,000. Finally, Point72 Asset Management L.P. raised its position in shares of Veritex by 92.6% during the fourth quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider's stock valued at $241,000 after buying an additional 4,271 shares during the last quarter. Institutional investors own 88.31% of the company's stock.

Veritex Trading Up 0.4%

NASDAQ VBTX traded up $0.13 on Thursday, hitting $34.32. 312,640 shares of the stock were exchanged, compared to its average volume of 592,871. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $31.93 and a two-hundred day moving average price of $26.82. The firm has a market capitalization of $1.88 billion, a P/E ratio of 16.35 and a beta of 1.08. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.96.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.55%. During the same period in the previous year, the firm earned $0.52 earnings per share. Research analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. Veritex's dividend payout ratio is presently 41.90%.

Insider Transactions at Veritex

In other news, EVP Angela Harper sold 47,716 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total value of $1,544,566.92. Following the transaction, the executive vice president directly owned 59,683 shares in the company, valued at approximately $1,931,938.71. This represents a 44.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Lavonda Renfro sold 53,411 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the completion of the transaction, the chief operating officer owned 60,209 shares in the company, valued at approximately $1,949,567.42. The trade was a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 320,699 shares of company stock valued at $10,361,627. Company insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Veritex in a research report on Monday, July 14th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. William Blair upgraded shares of Veritex to an "outperform" rating in a research report on Monday, July 14th. DA Davidson lifted their price objective on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Piper Sandler restated a "neutral" rating and issued a $34.00 price target (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Veritex currently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

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.