Texas Capital Bank Wealth Management Services Inc Takes Position in Veritex Holdings, Inc. $VBTX

Key Points

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Texas Capital Bank Wealth Management Services Inc 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 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 about 0.49% of Veritex as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of VBTX. Nuveen LLC purchased a new stake in shares of Veritex during the 1st quarter worth about $29,215,000. Millennium Management LLC boosted its stake in shares of Veritex by 220.5% during the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock worth $26,247,000 after acquiring an additional 664,885 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Veritex during the 4th quarter worth about $14,644,000. Nuveen Asset Management LLC boosted its stake in shares of Veritex by 57.8% during 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 acquiring an additional 454,015 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Veritex during the 4th quarter worth about $6,975,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VBTX has been the topic of a number of research reports. DA Davidson raised their price target on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Piper Sandler reiterated a "neutral" rating and issued a $34.00 price objective (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. The Goldman Sachs Group started coverage on shares of Veritex in a research note on Monday, July 14th. They issued a "buy" rating on the stock. Keefe, Bruyette & Woods raised their target price on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Finally, William Blair raised shares of Veritex to an "outperform" rating in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Veritex currently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Insider Buying and Selling at Veritex

In other news, insider Cara Mcdaniel sold 10,000 shares of the 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 directly owned 17,372 shares in the company, valued at $565,111.16. This represents a 36.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Sughrue sold 5,669 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $32.00, for a total transaction of $181,408.00. Following the completion of the sale, the director owned 50,652 shares in the company, valued at $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,699 shares of company stock valued at $10,361,627. Corporate insiders own 4.30% of the company's stock.

Veritex Trading Up 4.3%

Veritex stock traded up $1.37 during trading on Friday, hitting $33.45. The company had a trading volume of 1,521,768 shares, compared to its average volume of 743,121. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $33.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. The company's 50 day simple moving average is $29.64 and its 200-day simple moving average is $26.14. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 15.93 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 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 quarter last year, the firm earned $0.52 EPS. As a group, analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, August 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. Veritex's dividend payout ratio is 41.90%.

Veritex 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.