Curi RMB Capital LLC Purchases 52,135 Shares of Veritex Holdings, Inc. $VBTX

Key Points

• Curi RMB Capital LLC increased its position in Veritex Holdings by 9.9% during the first quarter, owning over 581,000 shares valued at approximately $14.5 million.
• Several institutional investors also raised their stakes, with Price T Rowe Associates increasing their shares by 11.4% in the fourth quarter.
• Veritex announced a quarterly dividend of $0.22 per share, with a yield of 2.6%, and reported earnings of $0.56 per share for the last quarter, surpassing analyst expectations.

Curi RMB Capital LLC lifted its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581,013 shares of the financial services provider's stock after purchasing an additional 52,135 shares during the period. Curi RMB Capital LLC owned 1.07% of Veritex worth $14,508,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Veritex by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider's stock valued at $98,172,000 after purchasing an additional 56,676 shares in the last quarter. Victory Capital Management Inc. raised its position in Veritex by 3.0% in the first quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock worth $50,960,000 after acquiring an additional 59,056 shares during the period. Nuveen Asset Management LLC raised its position in Veritex by 57.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after acquiring an additional 454,015 shares during the period. Nuveen LLC bought a new stake in Veritex in the first quarter worth about $29,215,000. Finally, Millennium Management LLC raised its position in Veritex by 220.5% in the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock worth $26,247,000 after acquiring an additional 664,885 shares during the period. 88.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on VBTX. William Blair raised 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. DA Davidson lifted their price objective on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. 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. 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 research report on Tuesday, July 22nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Veritex has a consensus rating of "Moderate Buy" and an average target price of $33.25.

Veritex Price Performance

NASDAQ:VBTX traded down $0.19 during mid-day trading on Tuesday, hitting $34.20. 520,322 shares of the stock traded hands, compared to its average volume of 586,559. The business's 50-day moving average price is $31.65 and its 200 day moving average price is $26.72. The company has a market cap of $1.87 billion, a PE ratio of 16.27 and a beta of 1.08. Veritex Holdings, Inc. has a 12-month low of $20.37 and a 12-month 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.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $109.83 million during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.52 earnings per share. On average, analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

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

Insider Activity at Veritex

In other news, insider Cara Mcdaniel sold 10,000 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total value of $325,300.00. Following the transaction, the insider owned 17,372 shares of the company's stock, valued at $565,111.16. This represents a 36.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Angela Harper sold 47,716 shares of the stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 320,699 shares of company stock valued at $10,361,627 in the last quarter. 4.30% of the stock is currently owned by company insiders.

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.