Comerica Bank Has $978,000 Holdings in Veritex Holdings, Inc. $VBTX

Key Points

• Comerica Bank reduced its stake in Veritex Holdings, Inc. by 31.0%, selling 17,579 shares, and now owns approximately 0.07% of the company valued at $978,000.
• Wall Street analysts are optimistic about Veritex, with multiple firms recently raising ratings and price targets, including Keefe, Bruyette & Woods, which increased its target from $30.00 to $37.00.
• Veritex announced a quarterly dividend of $0.22 per share, representing an annual yield of 2.6%, with the ex-dividend date set for September 16th.

Comerica Bank cut its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 31.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,171 shares of the financial services provider's stock after selling 17,579 shares during the quarter. Comerica Bank owned about 0.07% of Veritex worth $978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG lifted its stake in shares of Veritex by 48.7% in the fourth quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider's stock worth $1,294,000 after buying an additional 15,596 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in Veritex in the 1st quarter valued at $6,621,000. CWM LLC increased its holdings in Veritex by 23.8% in the 1st quarter. CWM LLC now owns 13,823 shares of the financial services provider's stock valued at $345,000 after buying an additional 2,653 shares during the period. SG Americas Securities LLC bought a new stake in Veritex in the 1st quarter valued at $1,085,000. Finally, Foundry Partners LLC bought a new stake in Veritex in the 1st quarter valued at $381,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on VBTX shares. Piper Sandler reissued a "neutral" rating and issued a $34.00 price target (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Veritex in a report on Monday, July 14th. They issued a "buy" rating on the stock. William Blair raised shares of Veritex to an "outperform" rating in a report on Monday, July 14th. Finally, DA Davidson upped their target price on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

Veritex Price Performance

NASDAQ VBTX traded up $0.17 on Thursday, hitting $34.36. 683,743 shares of the company were exchanged, compared to its average volume of 784,152. The firm has a 50 day moving average of $32.06 and a two-hundred day moving average of $26.88. The company has a market cap of $1.88 billion, a P/E ratio of 16.36 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $34.96.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.55%. During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.6%. Veritex's dividend payout ratio is 41.90%.

Insider Buying and Selling at Veritex

In related news, EVP Angela Harper sold 47,716 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total transaction 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. This represents a 44.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cara Mcdaniel sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $32.53, for a total transaction of $325,300.00. Following the transaction, the insider owned 17,372 shares in the company, 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 320,699 shares of company stock worth $10,361,627 over the last quarter. Corporate 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.