Jacobs Levy Equity Management Inc. Sells 52,374 Shares of Veritex Holdings, Inc. $VBTX

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Veritex Holdings by 42.5%, owning approximately 0.13% of the company after selling 52,374 shares.
• Veritex recently announced a quarterly dividend of $0.22 per share, representing a 2.6% yield and a 41.90% payout ratio.
• Analysts have raised price targets for Veritex, with estimates now ranging from $34.00 to $39.00, indicating a consensus rating of "Moderate Buy".

Jacobs Levy Equity Management Inc. reduced its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 42.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,918 shares of the financial services provider's stock after selling 52,374 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.13% of Veritex worth $1,771,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SummerHaven Investment Management LLC grew its position in shares of Veritex by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after purchasing an additional 536 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Veritex by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider's stock valued at $811,000 after purchasing an additional 992 shares during the period. New York State Common Retirement Fund grew its position in shares of Veritex by 6.9% in the 1st quarter. New York State Common Retirement Fund now owns 15,425 shares of the financial services provider's stock valued at $385,000 after purchasing an additional 1,000 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Veritex by 3.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the financial services provider's stock valued at $674,000 after purchasing an additional 1,000 shares during the period. Finally, EP Wealth Advisors LLC grew its position in shares of Veritex by 12.6% in the 1st quarter. EP Wealth Advisors LLC now owns 9,568 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 1,074 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods boosted their target price on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. William Blair upgraded Veritex to an "outperform" rating in a research note on Monday, July 14th. Piper Sandler restated a "neutral" rating and issued a $34.00 target price (up previously from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Insider Transactions at Veritex

In other Veritex news, insider Cara Mcdaniel sold 10,000 shares of the company's stock in a transaction on 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 $565,111.16. This represents a 36.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arcilia Acosta sold 7,279 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total value of $233,947.06. Following the sale, the director directly owned 54,933 shares in the company, valued at approximately $1,765,546.62. This trade represents a 11.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,699 shares of company stock worth $10,361,627. 4.30% of the stock is currently owned by company insiders.

Veritex Stock Down 1.4%

Shares of Veritex stock traded down $0.48 on Tuesday, reaching $33.64. 981,070 shares of the company were exchanged, compared to its average volume of 817,790. 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 capitalization of $1.84 billion, a price-to-earnings ratio of 16.02 and a beta of 1.08. 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 of $32.46 and a 200 day moving average of $27.06.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. The business had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. Veritex had a return on equity of 7.55% and a net margin of 14.83%.During the same period in the previous year, the firm earned $0.52 EPS. On average, equities research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The company also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Veritex's dividend payout ratio is currently 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.