AlphaQuest LLC Has $1.81 Million Position in Veritex Holdings, Inc. $VBTX

Key Points

• AlphaQuest LLC increased its stake in Veritex Holdings by 133.3% during the 1st quarter, owning 72,568 shares valued at $1,812,000.
• Veritex reported $0.56 earnings per share for the last quarter, beating analyst expectations of $0.54.
• Shareholders recently received a $0.22 quarterly dividend, representing a 2.6% yield, with a current payout ratio of 41.90%.

AlphaQuest LLC lifted its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 133.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,568 shares of the financial services provider's stock after buying an additional 41,467 shares during the period. AlphaQuest LLC owned approximately 0.13% of Veritex worth $1,812,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Veritex during the 1st quarter worth $31,000. Quarry LP lifted its stake in shares of 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 during the period. Aquatic Capital Management LLC acquired a new stake in shares of Veritex in the 4th quarter worth $143,000. EP Wealth Advisors LLC acquired a new stake in shares of Veritex in the 4th quarter worth $231,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of 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 worth $241,000 after acquiring an additional 4,271 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Trading Down 0.4%

Shares of NASDAQ VBTX traded down $0.13 during midday trading on Thursday, reaching $34.21. 150,580 shares of the stock were exchanged, compared to its average volume of 573,511. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.46. The stock has a 50 day moving average price of $30.21 and a 200-day moving average price of $26.29. The company has a market capitalization of $1.87 billion, a P/E ratio of 16.27 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 (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 firm had revenue of $109.83 million during 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 period in the previous year, the firm earned $0.52 earnings per share. Equities research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 7th. Veritex's payout ratio is presently 41.90%.

Insider Buying and Selling at Veritex

In other news, EVP Angela Harper sold 47,716 shares of the business's stock in a transaction on 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 directly owned 59,683 shares of the company's stock, valued at approximately $1,931,938.71. The trade was a 44.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO C Malcolm Holland III sold 125,762 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $32.26, for a total transaction of $4,057,082.12. Following the sale, the chief executive officer owned 294,508 shares of the company's stock, valued at approximately $9,500,828.08. The trade was a 29.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 320,699 shares of company stock valued at $10,361,627. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

VBTX has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Veritex in a research note on Monday, July 14th. They issued a "buy" rating for the company. DA Davidson raised their price objective on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods raised their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. William Blair upgraded shares of Veritex to an "outperform" rating in a research note on Monday, July 14th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $34.00 price objective (up previously from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

About Veritex

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.