Veritex Holdings, Inc. $VBTX Shares Sold by Mendon Capital Advisors Corp

Key Points

• Mendon Capital Advisors Corp reduced its stake in Veritex Holdings, Inc. by 90.5% in the first quarter, selling 239,000 shares and now holding 25,000 shares valued at $624,000.
• Veritex recently declared a quarterly dividend of $0.22 per share, with an annualized payout of $0.88, reflecting a dividend yield of 2.6%.
• Analysts have generally rated Veritex as a "Moderate Buy", with several firms increasing their price targets, including a rise to $39.00 from DA Davidson.

Mendon Capital Advisors Corp reduced its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 90.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the financial services provider's stock after selling 239,000 shares during the quarter. Mendon Capital Advisors Corp's holdings in Veritex were worth $624,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VBTX. Opal Wealth Advisors LLC acquired a new stake in Veritex in the 1st quarter valued at approximately $31,000. Quarry LP increased its position in Veritex by 327.6% in the 1st quarter. Quarry LP now owns 6,534 shares of the financial services provider's stock valued at $163,000 after acquiring an additional 5,006 shares during the period. Handelsbanken Fonder AB acquired a new stake in Veritex in the 1st quarter valued at approximately $227,000. EP Wealth Advisors LLC acquired a new stake in Veritex in the 4th quarter valued at approximately $231,000. Finally, Point72 Asset Management L.P. increased its position in Veritex by 92.6% in the 4th quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider's stock valued at $241,000 after acquiring an additional 4,271 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Veritex

In other news, Director Arcilia Acosta sold 7,279 shares of Veritex stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $32.14, for a total value of $233,947.06. Following the completion of the transaction, the director owned 54,933 shares in the company, valued at approximately $1,765,546.62. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fallon William sold 7,220 shares of Veritex stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $30.68, for a total transaction of $221,509.60. Following the completion of the transaction, the director owned 14,191 shares of the company's stock, valued at $435,379.88. This trade represents a 33.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,699 shares of company stock valued at $10,361,627. Corporate insiders own 4.30% of the company's stock.

Veritex Trading Down 0.6%

Shares of NASDAQ:VBTX opened at $34.20 on Wednesday. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.96. The company has a market cap of $1.87 billion, a P/E ratio of 16.29 and a beta of 1.08. The stock's 50-day moving average is $31.79 and its 200-day moving average is $26.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96.

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 for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The business had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same period last year, the business earned $0.52 earnings per share. Equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Veritex's payout ratio is presently 41.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on VBTX shares. William Blair raised Veritex to an "outperform" rating in a research note on Monday, July 14th. DA Davidson raised their price objective on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group assumed coverage on Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. Keefe, Bruyette & Woods increased their target price on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Piper Sandler restated 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. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.25.

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.

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