Texas Capital Bank Wealth Management Services Inc Makes New Investment in Veritex Holdings, Inc. $VBTX

Key Points

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Texas Capital Bank Wealth Management Services Inc acquired a new position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 265,162 shares of the financial services provider's stock, valued at approximately $6,621,000. Texas Capital Bank Wealth Management Services Inc owned 0.49% of Veritex at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Veritex by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider's stock worth $98,172,000 after purchasing an additional 56,676 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Veritex by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock worth $76,149,000 after purchasing an additional 125,189 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Veritex by 3.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock worth $50,960,000 after purchasing an additional 59,056 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Veritex by 57.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after purchasing an additional 454,015 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Veritex in the 1st quarter worth about $29,215,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Veritex news, Director Fallon William sold 7,220 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $30.68, for a total transaction of $221,509.60. Following the completion of the sale, the director owned 14,191 shares in the company, valued at $435,379.88. This trade represents a 33.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cara Mcdaniel sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 17,372 shares of the company's stock, valued at approximately $565,111.16. This trade represents a 36.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,030 shares of company stock worth $10,180,219 over the last quarter. Corporate insiders own 4.30% of the company's stock.

Veritex Stock Performance

Shares of NASDAQ:VBTX opened at $32.16 on Tuesday. The company has a market cap of $1.76 billion, a P/E ratio of 15.31 and a beta of 1.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96. Veritex Holdings, Inc. has a one year low of $20.37 and a one year high of $33.69. The business's 50-day simple moving average is $29.04 and its 200 day simple moving average is $25.98.

Veritex (NASDAQ:VBTX - Get Free Report) last issued 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 return on equity of 7.55% and a net margin of 14.83%. The firm had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. During the same quarter last year, the firm earned $0.52 EPS. On average, sell-side analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio (DPR) is 41.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VBTX. William Blair upgraded Veritex to an "outperform" rating in a report on Monday, July 14th. Piper Sandler reiterated a "neutral" rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. The Goldman Sachs Group began coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating on the stock. Stephens reiterated an "equal weight" rating and set a $30.00 target price on shares of Veritex in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods raised 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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