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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Veritex in the 1st quarter valued at approximately $31,000. Quarry LP increased its position in shares of Veritex by 117.0% during the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after buying an additional 824 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Veritex during the fourth quarter worth $143,000. Handelsbanken Fonder AB acquired a new stake in shares of Veritex during the first quarter worth $227,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Veritex during the fourth quarter worth $231,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 125,762 shares of the firm's stock in a transaction on 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 directly owned 294,508 shares of the company's stock, valued at approximately $9,500,828.08. This trade represents a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arcilia Acosta sold 7,279 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $32.14, for a total transaction of $233,947.06. Following the completion of the transaction, the director directly owned 54,933 shares in the company, valued at $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. In the last three months, insiders sold 320,699 shares of company stock valued at $10,361,627. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VBTX. Keefe, Bruyette & Woods increased their price objective 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. Piper Sandler reiterated a "neutral" rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of Veritex in a research 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. Finally, DA Davidson increased their price objective on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research report 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 currently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Veritex Stock Down 0.2%

NASDAQ VBTX traded down $0.07 on Thursday, hitting $34.26. 119,237 shares of the company were exchanged, compared to its average volume of 573,268. The company has a market cap of $1.88 billion, a PE ratio of 16.29 and a beta of 1.08. Veritex Holdings, Inc. has a 12 month low of $20.37 and a 12 month high of $34.46. The stock has a fifty day moving average of $30.21 and a 200-day moving average of $26.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $110.91 million. During the same period last year, the firm earned $0.52 earnings per share. As a group, analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

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