Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by 1492 Capital Management LLC

1492 Capital Management LLC reduced its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,681 shares of the financial services provider's stock after selling 18,742 shares during the period. Veritex comprises 2.3% of 1492 Capital Management LLC's holdings, making the stock its 14th biggest position. 1492 Capital Management LLC owned about 0.32% of Veritex worth $4,312,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new position in shares of Veritex during the 1st quarter valued at approximately $31,000. Quarry LP increased its holdings in Veritex by 117.0% in the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after acquiring an additional 824 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Veritex in the 4th quarter worth $143,000. Meeder Asset Management Inc. increased its holdings in Veritex by 9.8% in the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock worth $146,000 after acquiring an additional 481 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in Veritex in the 1st quarter worth $227,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Performance

VBTX traded up $0.41 on Friday, hitting $32.51. 1,023,303 shares of the company traded hands, compared to its average volume of 550,013. The stock has a market capitalization of $1.76 billion, a PE ratio of 15.48 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $26.58 and a 200-day moving average of $25.35. Veritex Holdings, Inc. has a 12-month low of $20.10 and a 12-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 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 return on equity of 7.59% and a net margin of 14.83%. During the same quarter in the previous year, the company posted $0.52 earnings per share. Sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Veritex in a report on Monday, July 14th. They issued a "buy" rating for the company. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 target price (up previously from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. Raymond James Financial cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. DA Davidson lifted their price target on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Stephens reissued an "equal weight" rating and set a $30.00 price target on shares of Veritex in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Insiders Place Their Bets

In other Veritex news, COO Lavonda Renfro sold 53,411 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the transaction, the chief operating officer owned 60,209 shares in the company, valued at approximately $1,949,567.42. The trade was a 47.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Angela Harper sold 47,716 shares of the business'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 transaction, the executive vice president owned 59,683 shares in the company, valued at $1,931,938.71. The trade was a 44.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 300,531 shares of company stock worth $9,724,762. Company insiders own 4.30% of the company's stock.

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.