Fox Run Management L.L.C. Invests $324,000 in Veritex Holdings, Inc. $VBTX

Key Points

• Fox Run Management L.L.C. made a new investment in Veritex Holdings, purchasing 12,960 shares valued at approximately $324,000 in the first quarter.
• Analysts have a Moderate Buy consensus on Veritex, with five rating it a buy and a price target currently set at $33.25.
• Veritex recently declared a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 2.7%.

Fox Run Management L.L.C. bought a new position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 12,960 shares of the financial services provider's stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Veritex by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 69,919 shares of the financial services provider's stock valued at $1,746,000 after acquiring an additional 2,306 shares in the last quarter. Public Sector Pension Investment Board increased its position in Veritex by 27.4% during the 1st quarter. Public Sector Pension Investment Board now owns 172,916 shares of the financial services provider's stock valued at $4,318,000 after purchasing an additional 37,162 shares during the period. Nuveen LLC purchased a new position in Veritex during the 1st quarter valued at about $29,215,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Veritex by 59.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,184 shares of the financial services provider's stock valued at $1,578,000 after purchasing an additional 23,436 shares in the last quarter. Finally, Solutions 4 Wealth Ltd lifted its position in shares of Veritex by 58.4% in the 1st quarter. Solutions 4 Wealth Ltd now owns 66,005 shares of the financial services provider's stock worth $1,648,000 after purchasing an additional 24,335 shares during the period. Institutional investors own 88.31% of the company's stock.

Insider Buying and Selling

In other news, insider Cara Mcdaniel sold 10,000 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $32.53, for a total value of $325,300.00. Following the transaction, the insider directly owned 17,372 shares of the company's stock, valued at approximately $565,111.16. This represents a 36.53% decrease in their ownership of the stock. The sale 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 Veritex stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $32.38, for a total value of $1,729,448.18. Following the sale, the chief operating officer directly owned 60,209 shares of the company's stock, valued at $1,949,567.42. This trade represents a 47.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,699 shares of company stock worth $10,361,627 over the last three months. Corporate insiders own 4.30% of the company's stock.

Veritex Stock Down 0.6%

Shares of VBTX traded down $0.19 during mid-day trading on Monday, hitting $33.26. 405,026 shares of the company traded hands, compared to its average volume of 743,121. The company has a market capitalization of $1.82 billion, a PE ratio of 15.84 and a beta of 1.08. 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 business has a 50 day moving average of $29.82 and a 200 day moving average of $26.18. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $33.69.

Veritex (NASDAQ:VBTX - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $109.83 million for the quarter, compared to the consensus estimate 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 firm earned $0.52 EPS. Equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 7th. Veritex's dividend payout ratio is presently 41.90%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. William Blair raised shares of Veritex to an "outperform" rating in a report on Monday, July 14th. DA Davidson lifted their price target on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Piper Sandler reaffirmed a "neutral" rating and set 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 target price on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.