Veritex Holdings, Inc. (NASDAQ:VBTX) Director Fallon William Sells 7,220 Shares

Key Points

• Veritex Holdings, Inc. Director Fallon William sold 7,220 shares at an average price of $30.68, resulting in a total value of approximately $221,509.60, which decreased his ownership by 33.72%.
• The company reported earnings of $0.56 per share, exceeding analysts' estimates of $0.54, with a net margin of 14.83% and revenue of $109.83 million for the recent quarter.
• Veritex announced a quarterly dividend of $0.22, set to be paid on August 21st, representing a annualized yield of 2.8% with a payout ratio of 41.90%.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) 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 sale, the director directly owned 14,191 shares in the company, valued at $435,379.88. This trade represents a 33.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Veritex Trading Up 1.3%

NASDAQ:VBTX traded up $0.39 on Friday, reaching $30.93. 466,891 shares of the stock traded hands, compared to its average volume of 1,709,209. The company has a current ratio of 0.96, a quick ratio of 0.94 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 $33.69. The company's 50 day moving average is $28.14 and its 200-day moving average is $25.78. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 14.73 and a beta of 1.08.

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. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The company had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. During the same period in the prior year, the firm posted $0.52 EPS. Equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Veritex's dividend payout ratio (DPR) is 41.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in Veritex in the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Veritex during the 1st quarter worth approximately $31,000. Quarry LP grew its position in shares of Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after buying an additional 824 shares during the period. GAMMA Investing LLC increased its stake in shares of Veritex by 28.9% in the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 1,011 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Veritex in the 1st quarter valued at $135,000. 88.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. The Goldman Sachs Group assumed coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. DA Davidson upped 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. Piper Sandler reiterated a "neutral" rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Stephens reissued an "equal weight" rating and set a $30.00 target price on shares of Veritex in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Veritex presently has a consensus rating of "Moderate Buy" and an average 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.