Fox Run Management L.L.C. Makes New $324,000 Investment 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. purchased a new position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,960 shares of the financial services provider's stock, valued at approximately $324,000.

A number of other large investors have also made changes to their positions in VBTX. Nuveen LLC bought a new position in Veritex during the first quarter valued at about $29,215,000. Millennium Management LLC grew its holdings in shares of Veritex by 220.5% during the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock worth $26,247,000 after purchasing an additional 664,885 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of Veritex during the 4th quarter worth approximately $14,644,000. Nuveen Asset Management LLC increased its position in shares of Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock valued at $33,675,000 after purchasing an additional 454,015 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Veritex in the fourth quarter valued at $6,975,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Insider Buying and Selling

In related news, Director Arcilia Acosta sold 7,279 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $32.14, for a total transaction of $233,947.06. Following the transaction, the director owned 54,933 shares in the company, valued at $1,765,546.62. This represents a 11.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lavonda Renfro sold 53,411 shares of the 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 sale, the chief operating officer directly owned 60,209 shares in the company, valued at approximately $1,949,567.42. This represents a 47.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 320,699 shares of company stock valued at $10,361,627. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

VBTX has been the subject of several research reports. Piper Sandler reaffirmed a "neutral" rating and issued a $34.00 target price (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. William Blair upgraded shares of Veritex to an "outperform" rating in a research report on Monday, July 14th. DA Davidson upped their target price on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Veritex currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

Veritex Price Performance

VBTX stock traded up $1.37 during trading on Friday, hitting $33.45. 1,521,768 shares of the stock traded hands, compared to its average volume of 718,198. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 15.93 and a beta of 1.08. Veritex Holdings, Inc. has a one year low of $20.37 and a one year high of $33.69. 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 50 day simple moving average of $29.64 and a 200 day simple moving average of $26.16.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data 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 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 quarter last year, the business posted $0.52 earnings per share. Equities analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

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

Veritex 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.