Bridgeway Capital Management LLC Purchases 50,711 Shares of Veritex Holdings, Inc. $VBTX

Key Points

• Bridgeway Capital Management LLC increased its holdings in Veritex Holdings, Inc. by 16.2%, owning 363,414 shares valued at approximately $9.07 million after acquiring an additional 50,711 shares.
• Insider sales included EVP Angela Harper selling 47,716 shares for over $1.54 million, and a total of 320,699 shares have been sold by insiders recently.
• The stock recently received upgrades from multiple analysts, with target prices raised, including a boost from DA Davidson to $39.00 and Piper Sandler reaffirming a neutral rating at $34.00.

Bridgeway Capital Management LLC lifted its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 16.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 363,414 shares of the financial services provider's stock after purchasing an additional 50,711 shares during the period. Bridgeway Capital Management LLC owned 0.67% of Veritex worth $9,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VBTX. EP Wealth Advisors LLC grew its position in Veritex by 12.6% in the 1st quarter. EP Wealth Advisors LLC now owns 9,568 shares of the financial services provider's stock worth $239,000 after purchasing an additional 1,074 shares in the last quarter. First Manhattan CO. LLC. grew its holdings in shares of Veritex by 0.8% in the first quarter. First Manhattan CO. LLC. now owns 430,183 shares of the financial services provider's stock valued at $10,742,000 after acquiring an additional 3,208 shares in the last quarter. Graham Capital Management L.P. increased its position in shares of Veritex by 144.3% during the first quarter. Graham Capital Management L.P. now owns 42,438 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 25,068 shares during the last quarter. Quarry LP increased 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 acquiring an additional 5,006 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. lifted its holdings in Veritex by 26.9% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 117,883 shares of the financial services provider's stock worth $2,944,000 after acquiring an additional 25,000 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Stock Performance

VBTX stock traded down $0.27 during midday trading on Tuesday, reaching $34.13. 446,932 shares of the company's stock traded hands, compared to its average volume of 586,344. The firm has a market capitalization of $1.87 billion, a PE ratio of 16.23 and a beta of 1.08. The company has a 50-day moving average price of $31.65 and a two-hundred day moving average price of $26.72. Veritex Holdings, Inc. has a 52 week low of $20.37 and a 52 week high of $34.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96.

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

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 16th. Veritex's payout ratio is presently 41.90%.

Insiders Place Their Bets

In related news, EVP Angela Harper sold 47,716 shares of the company's stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Lavonda Renfro sold 53,411 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the completion of the sale, the chief operating officer directly owned 60,209 shares in the company, valued at $1,949,567.42. This represents a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,699 shares of company stock worth $10,361,627. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $34.00 price objective (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on shares of Veritex in a report on Monday, July 14th. They issued a "buy" rating on the stock. William Blair upgraded Veritex to an "outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods raised their target price on Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, DA Davidson boosted their target price on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company 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.