Quantbot Technologies LP Buys 29,882 Shares of Veritex Holdings, Inc. $VBTX

Key Points

• Quantbot Technologies LP increased its stake in Veritex Holdings, acquiring an additional 29,882 shares, resulting in a total of 51,928 shares or approximately 0.10% ownership valued at $1,297,000.
• Veritex announced its quarterly earnings with $0.56 earnings per share (EPS), surpassing estimates, and declared a quarterly dividend of $0.22 per share, giving an annualized yield of 2.6%.
• Shares of Veritex experienced a 4.3% increase and have a market capitalization of $1.83 billion, with a 12-month trading range between $20.37 and $33.69.

Quantbot Technologies LP raised its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 135.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,928 shares of the financial services provider's stock after purchasing an additional 29,882 shares during the period. Quantbot Technologies LP owned approximately 0.10% of Veritex worth $1,297,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG lifted its holdings in shares of Veritex by 48.7% during the 4th quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider's stock worth $1,294,000 after acquiring an additional 15,596 shares during the period. CWM LLC lifted its holdings in shares of Veritex by 23.8% during the 1st quarter. CWM LLC now owns 13,823 shares of the financial services provider's stock worth $345,000 after acquiring an additional 2,653 shares during the period. SG Americas Securities LLC bought a new position in shares of Veritex during the 1st quarter worth about $1,085,000. Foundry Partners LLC bought a new position in shares of Veritex during the 1st quarter worth about $381,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Veritex during the 4th quarter worth about $1,057,000. 88.31% of the stock is owned by institutional investors.

Veritex Trading Up 4.3%

Shares of VBTX stock opened at $33.45 on Friday. Veritex Holdings, Inc. has a 12-month low of $20.37 and a 12-month high of $33.69. The company has a market capitalization of $1.83 billion, a P/E ratio of 15.93 and a beta of 1.08. The firm has a 50-day moving average price of $29.64 and a 200 day moving average price of $26.16. 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 announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The firm had revenue of $109.83 million during the quarter, compared to the consensus estimate of $110.91 million. During the same period last year, the firm posted $0.52 EPS. Research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.22 per share. 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 41.90%.

Insiders Place Their Bets

In related news, Director Fallon William sold 7,220 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $30.68, for a total value of $221,509.60. Following the completion of the transaction, the director owned 14,191 shares in the company, valued at $435,379.88. The trade was a 33.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the insider owned 17,372 shares in the company, valued at $565,111.16. The trade was a 36.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 320,699 shares of company stock valued at $10,361,627 over the last quarter. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VBTX shares. Keefe, Bruyette & Woods raised their price objective 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. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. William Blair raised shares of Veritex to an "outperform" rating in a report on Monday, July 14th. The Goldman Sachs Group began coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. Finally, DA Davidson lifted their price target on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Five investment 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, the company presently has a consensus 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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