Solutions 4 Wealth Ltd Has $1.65 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Key Points

• Solutions 4 Wealth Ltd increased its holdings in Veritex Holdings, Inc. by 58.4% in Q1, purchasing an additional 24,335 shares, bringing its total ownership to 66,005 shares worth approximately $1.65 million.
• Veritex has reported $0.56 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $0.54, and anticipates a total EPS of 2.26 for the current fiscal year.
• The company declared a quarterly dividend of $0.22, with a dividend yield of 2.8% and a payout ratio of 41.90%, further enhancing its attractiveness to investors.

Solutions 4 Wealth Ltd grew its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 58.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,005 shares of the financial services provider's stock after buying an additional 24,335 shares during the period. Veritex accounts for approximately 2.9% of Solutions 4 Wealth Ltd's holdings, making the stock its 8th biggest holding. Solutions 4 Wealth Ltd owned approximately 0.12% of Veritex worth $1,648,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Veritex in the 1st quarter valued at about $31,000. Quarry LP grew its position in shares of Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after buying an additional 824 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Veritex during the 4th quarter valued at about $143,000. EP Wealth Advisors LLC bought a new position in Veritex in the 4th quarter worth about $231,000. Finally, Point72 Asset Management L.P. grew its position in Veritex by 92.6% in the 4th quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider's stock worth $241,000 after purchasing an additional 4,271 shares during the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veritex

In other news, 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 transaction of $4,057,082.12. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angela Harper sold 47,716 shares of Veritex stock in a transaction dated Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $1,931,938.71. This represents a 44.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 315,030 shares of company stock worth $10,180,219 in the last ninety days. Company insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VBTX. Stephens reaffirmed an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Piper Sandler reissued a "neutral" rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. DA Davidson upped their price target on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. William Blair upgraded shares of Veritex to an "outperform" rating in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

Veritex Stock Up 1.3%

Shares of Veritex stock traded up $0.39 during midday trading on Friday, reaching $30.93. 466,891 shares of the company's stock traded hands, compared to its average volume of 1,709,209. Veritex Holdings, Inc. has a 52 week low of $20.37 and a 52 week high of $33.69. The company's 50 day simple moving average is $28.14 and its 200 day simple moving average is $25.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.96. The company 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 posted its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating 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 net margin of 14.83% and a return on equity of 7.55%. During the same period last year, the business posted $0.52 EPS. Equities analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

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