Insider Selling: Veritex Holdings, Inc. (NASDAQ:VBTX) CEO Sells 125,762 Shares of Stock

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) CEO C Malcolm Holland III sold 125,762 shares of Veritex stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $32.26, for a total value of $4,057,082.12. Following the sale, the chief executive officer directly owned 294,508 shares of the company's stock, valued at $9,500,828.08. This represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

C Malcolm Holland III also recently made the following trade(s):

• On Wednesday, July 23rd, C Malcolm Holland III sold 63,642 shares of Veritex stock. The shares were sold at an average price of $32.50, for a total value of $2,068,365.00.

Veritex Trading Down 1.2%

Shares of VBTX traded down $0.39 during trading hours on Thursday, hitting $32.10. The company had a trading volume of 1,045,555 shares, compared to its average volume of 1,416,271. The firm has a market cap of $1.74 billion, a P/E ratio of 15.29 and a beta of 1.03. The stock's 50 day moving average price is $26.58 and its 200 day moving average price is $25.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10. Veritex Holdings, Inc. has a 52-week low of $20.10 and a 52-week high of $33.69.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a return on equity of 7.59% and a net margin of 14.83%. The firm had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, research analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.74%. Veritex's dividend payout ratio (DPR) is 41.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VBTX shares. Raymond James Financial lowered Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group assumed coverage on Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. William Blair raised Veritex to an "outperform" rating in a research note on Monday, July 14th. DA Davidson lifted their price target on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Stephens reaffirmed an "equal weight" rating and set a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Institutional Trading of Veritex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS lifted its position in Veritex by 28.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,612 shares of the financial services provider's stock valued at $329,000 after acquiring an additional 2,800 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Veritex by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,699 shares of the financial services provider's stock valued at $984,000 after acquiring an additional 643 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Veritex by 6.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 32,295 shares of the financial services provider's stock valued at $842,000 after acquiring an additional 2,087 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock valued at $118,000 after buying an additional 1,011 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Veritex during the 2nd quarter valued at $283,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

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.

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