Veritex Holdings, Inc. $VBTX Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP decreased its stake in Veritex Holdings, Inc. by 12.7% in the first quarter, holding approximately $3.53 million worth of shares after selling 20,578 shares.
• Several institutional investors, including Deutsche Bank AG and Texas Capital Bank Wealth Management Services Inc, have recently increased their stakes in Veritex, showcasing growing investment interest.
• Veritex announced a quarterly dividend of $0.22 per share, representing an annualized yield of 2.6%, with a payout ratio of 41.90%.

Trexquant Investment LP lessened its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,299 shares of the financial services provider's stock after selling 20,578 shares during the quarter. Trexquant Investment LP owned approximately 0.26% of Veritex worth $3,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VBTX. Nuveen LLC acquired a new stake in shares of Veritex in the first quarter valued at about $29,215,000. Millennium Management LLC grew its position in shares of Veritex by 220.5% in the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock valued at $26,247,000 after purchasing an additional 664,885 shares during the period. MetLife Investment Management LLC grew its position in shares of Veritex by 1,813.1% in the first quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider's stock valued at $15,353,000 after purchasing an additional 582,733 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of Veritex in the fourth quarter valued at about $14,644,000. Finally, Nuveen Asset Management LLC grew its position in shares of Veritex by 57.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock valued at $33,675,000 after purchasing an additional 454,015 shares during the period. Institutional investors and hedge funds own 88.31% of the company's stock.

Veritex Trading Down 1.5%

VBTX stock traded down $0.51 during trading on Friday, reaching $34.22. 551,337 shares of the stock were exchanged, compared to its average volume of 718,649. 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 business has a 50 day moving average price of $31.48 and a 200-day moving average price of $26.66. Veritex Holdings, Inc. has a 1 year low of $20.37 and a 1 year high of $34.96. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 16.30 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, topping 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 company had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, research analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be 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 is Tuesday, September 16th. Veritex's payout ratio is 41.90%.

Analysts Set New Price Targets

VBTX has been the topic of several research analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $34.00 target price (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on shares of Veritex in a research report on Monday, July 14th. They set a "buy" rating on the stock. William Blair upgraded shares of Veritex to an "outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods boosted their price target 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. Finally, DA Davidson boosted their price target 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 research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Insiders Place Their Bets

In other news, Director John Sughrue sold 5,669 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $32.00, for a total value of $181,408.00. Following the sale, the director directly owned 50,652 shares of the company's stock, valued at approximately $1,620,864. The trade was a 10.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arcilia Acosta sold 7,279 shares of the business's stock in a transaction that occurred 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 sale, 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 ninety days, insiders sold 320,699 shares of company stock worth $10,361,627. Insiders own 4.30% of the company's stock.

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.