Wedge Capital Management L L P NC Sells 17,952 Shares of Veritex Holdings, Inc. $VBTX

Key Points

• Wedge Capital Management L L P NC reduced its holdings in Veritex Holdings by selling 17,952 shares, a decrease of 20.7%, leaving it with about 68,965 shares valued at $1.8 million.
• Institutional investors currently own 88.31% of Veritex stock, with several hedge funds like Deutsche Bank AG and ProShare Advisors LLC increasing their stakes in the company.
• Veritex recently announced a quarterly dividend of $0.22 per share, representing an annualized yield of 2.6%, with a payout ratio of 41.90%.

Wedge Capital Management L L P NC cut its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 20.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,965 shares of the financial services provider's stock after selling 17,952 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Veritex worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VBTX. Deutsche Bank AG boosted its position in shares of Veritex by 48.7% during the fourth quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 15,596 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Veritex by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider's stock valued at $811,000 after purchasing an additional 992 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Veritex by 44.3% during the fourth quarter. ProShare Advisors LLC now owns 15,865 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 4,871 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Veritex during the fourth quarter valued at approximately $432,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Veritex by 5.1% during the fourth quarter. Voloridge Investment Management LLC now owns 153,028 shares of the financial services provider's stock valued at $4,156,000 after purchasing an additional 7,444 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Veritex news, Director Fallon William sold 7,220 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $30.68, for a total value of $221,509.60. Following the completion of the sale, the director owned 14,191 shares in the company, valued at $435,379.88. This represents a 33.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arcilia Acosta sold 7,279 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total value of $233,947.06. Following the completion of the transaction, the director directly owned 54,933 shares of the company's stock, valued at approximately $1,765,546.62. This trade represents a 11.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 320,699 shares of company stock valued at $10,361,627. 4.30% of the stock is currently owned by corporate insiders.

Veritex Stock Down 1.9%

Veritex stock opened at $33.66 on Tuesday. The stock has a market cap of $1.84 billion, a PE ratio of 16.03 and a beta of 1.08. 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 Holdings, Inc. has a one year low of $20.37 and a one year high of $34.96. The stock has a fifty day moving average of $32.88 and a 200 day moving average of $27.33.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. The company had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. Veritex had a return on equity of 7.55% and a net margin of 14.83%.During the same quarter in the prior year, the business earned $0.52 earnings per share. As a group, sell-side 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. Shareholders of record on Tuesday, September 16th will be given a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Veritex's dividend payout ratio is presently 41.90%.

Wall Street Analyst Weigh In

VBTX has been the topic of several research reports. Piper Sandler restated a "neutral" rating and set a $34.00 price target (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. DA Davidson lifted their price objective on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. William Blair upgraded Veritex to an "outperform" rating in a research note on Monday, July 14th. The Goldman Sachs Group began coverage on Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.25.

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.

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