1492 Capital Management LLC Sells 18,742 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

1492 Capital Management LLC trimmed its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,681 shares of the financial services provider's stock after selling 18,742 shares during the quarter. Veritex accounts for 2.3% of 1492 Capital Management LLC's holdings, making the stock its 14th biggest holding. 1492 Capital Management LLC owned 0.32% of Veritex worth $4,312,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of VBTX. Opal Wealth Advisors LLC bought a new stake in shares of Veritex during the 1st quarter valued at $31,000. Quarry LP lifted 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 acquiring an additional 824 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Veritex during the 4th quarter valued at $143,000. Meeder Asset Management Inc. lifted its position in shares of Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after acquiring an additional 481 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in shares of Veritex during the 1st quarter worth $227,000. 88.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on VBTX. Raymond James Financial downgraded Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group started coverage on Veritex in a research report on Monday, July 14th. They set a "buy" rating for the company. Keefe, Bruyette & Woods upped their target price on Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Piper Sandler reaffirmed a "neutral" rating and issued a $34.00 target price (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $30.00 target price on shares of Veritex in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Veritex presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Veritex Trading Up 1.3%

Shares of VBTX stock traded up $0.41 on Friday, hitting $32.51. The company had a trading volume of 1,023,303 shares, compared to its average volume of 1,450,851. The firm has a market cap of $1.76 billion, a P/E ratio of 15.48 and a beta of 1.03. The stock's 50-day moving average is $26.73 and its two-hundred day moving average is $25.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. Veritex Holdings, Inc. has a twelve month low of $20.10 and a twelve month high of $33.69.

Veritex (NASDAQ:VBTX - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a return on equity of 7.59% and a net margin of 14.83%. The business had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, August 7th. This represents a $0.88 annualized dividend and a yield of 2.71%. Veritex's dividend payout ratio is currently 41.90%.

Insiders Place Their Bets

In related news, CEO C Malcolm Holland III sold 63,642 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $32.50, for a total transaction of $2,068,365.00. Following the completion of the sale, the chief executive officer owned 294,508 shares of the company's stock, valued at $9,571,510. This trade represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Angela Harper sold 47,716 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total value of $1,544,566.92. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,531 shares of company stock worth $9,724,762. Company 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.