Mackenzie Financial Corp Takes $369,000 Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Key Points

• Mackenzie Financial Corp has acquired a new position in Veritex Holdings, purchasing 14,796 shares valued at approximately $369,000.
• Insider trading activity shows that EVP Angela Harper and CEO C Malcolm Holland III have significantly reduced their stakes in Veritex by selling a combined total of over $5.6 million in shares.
• Veritex recently announced a quarterly dividend of $0.22 per share, representing a yield of 2.8%, with an ex-dividend date set for August 7th.

Mackenzie Financial Corp acquired a new stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,796 shares of the financial services provider's stock, valued at approximately $369,000.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Veritex in the first quarter valued at $31,000. Quarry LP lifted its holdings in shares of Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 824 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Veritex in the fourth quarter valued at $143,000. EP Wealth Advisors LLC purchased a new stake in shares of Veritex in the fourth quarter valued at $231,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Veritex by 92.6% in the fourth quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider's stock valued at $241,000 after purchasing an additional 4,271 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company's stock.

Insider Activity at Veritex

In other Veritex news, EVP Angela Harper sold 47,716 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total transaction of $1,544,566.92. Following the transaction, the executive vice president directly owned 59,683 shares in the company, valued at $1,931,938.71. This trade represents a 44.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Malcolm Holland III sold 125,762 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $32.26, for a total value of $4,057,082.12. Following the transaction, the chief executive officer owned 294,508 shares in the company, valued at approximately $9,500,828.08. This trade represents a 29.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,030 shares of company stock valued at $10,180,219. Insiders own 4.30% of the company's stock.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $30.93 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 1 year low of $20.37 and a 1 year high of $33.69. The business has a fifty day simple moving average of $28.14 and a 200 day simple moving average of $25.78. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 14.73 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%. The business had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. During the same period last year, the company earned $0.52 earnings per share. As a group, sell-side analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio (DPR) is 41.90%.

Wall Street Analysts Forecast Growth

VBTX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Stephens restated an "equal weight" rating and issued a $30.00 target price on shares of Veritex in a report on Wednesday, April 23rd. Piper Sandler restated a "neutral" rating and issued a $34.00 target price (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. William Blair upgraded Veritex to an "outperform" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group assumed coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Veritex Company 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.

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