Cubist Systematic Strategies LLC Cuts Stock Holdings in Veritex Holdings, Inc. $VBTX

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Veritex Holdings by 11.7% during Q1, currently holding 238,446 shares worth approximately $5.95 million.
• Veritex Holdings reported $0.56 earnings per share for the last quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.22 per share.
• Several analysts have given Veritex stock a "Moderate Buy" rating, with price targets increased, indicating a positive outlook for the company.

Cubist Systematic Strategies LLC decreased its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,446 shares of the financial services provider's stock after selling 31,691 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.44% of Veritex worth $5,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Veritex by 11.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,227 shares of the financial services provider's stock worth $1,039,000 after purchasing an additional 3,923 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Veritex in the fourth quarter valued at approximately $256,000. Algert Global LLC grew its stake in shares of Veritex by 6.2% in the fourth quarter. Algert Global LLC now owns 84,336 shares of the financial services provider's stock worth $2,291,000 after acquiring an additional 4,951 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Veritex in the fourth quarter worth $494,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of Veritex by 9.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 312,703 shares of the financial services provider's stock worth $8,493,000 after purchasing an additional 27,685 shares in the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Veritex news, insider Cara Mcdaniel sold 10,000 shares of Veritex stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total transaction of $325,300.00. Following the completion of the transaction, the insider directly owned 17,372 shares of the company's stock, valued at $565,111.16. The trade was a 36.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arcilia Acosta sold 7,279 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total transaction of $233,947.06. Following the sale, the director directly owned 54,933 shares of the company's stock, valued at $1,765,546.62. This represents a 11.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,699 shares of company stock worth $10,361,627. Corporate insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VBTX shares. Keefe, Bruyette & Woods upped their target price 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. Piper Sandler restated a "neutral" rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. William Blair upgraded shares of Veritex to an "outperform" rating in a research report on Monday, July 14th. The Goldman Sachs Group began coverage on shares of Veritex in a research report on Monday, July 14th. They issued a "buy" rating on the stock. Finally, DA Davidson increased their price target on shares of Veritex from $32.00 to $39.00 and gave the stock 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. According to MarketBeat.com, Veritex presently has an average rating of "Moderate Buy" and an average target price of $33.25.

Veritex Price Performance

Shares of NASDAQ VBTX traded down $0.22 during midday trading on Tuesday, reaching $34.17. The company's stock had a trading volume of 385,116 shares, compared to its average volume of 585,791. Veritex Holdings, Inc. has a one year low of $20.37 and a one year high of $34.96. The company has a 50 day moving average price of $31.65 and a 200 day moving average price of $26.72. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 16.29 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The firm had revenue of $109.83 million for 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 quarter in the prior year, the business earned $0.52 EPS. On average, equities research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

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

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.