Insider Selling: Veritex Holdings, Inc. (NASDAQ:VBTX) EVP Sells 47,716 Shares of Stock

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) EVP Angela Harper sold 47,716 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total value of $1,544,566.92. Following the completion of the sale, the executive vice president directly owned 59,683 shares in the company, valued at $1,931,938.71. The trade was a 44.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Veritex Price Performance

Shares of VBTX stock traded down $0.39 during mid-day trading 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 company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. The stock's 50 day moving average price is $26.58 and its 200-day moving average price is $25.35. Veritex Holdings, Inc. has a 52-week low of $20.10 and a 52-week high of $33.69. The company has a market capitalization of $1.74 billion, a P/E ratio of 15.29 and a beta of 1.03.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 7.59% and a net margin of 14.83%. The company had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. During the same period in the prior year, the company earned $0.52 earnings per share. Equities research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

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

Wall Street Analyst Weigh In

VBTX has been the topic of a number of research reports. William Blair upgraded shares of Veritex to an "outperform" rating in a report on Monday, July 14th. Raymond James Financial downgraded Veritex from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Piper Sandler reissued a "neutral" rating and issued a $34.00 target price (up from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday. Finally, DA Davidson lifted their target price on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Veritex currently has an average rating of "Moderate Buy" and an average price target of $33.25.

Hedge Funds Weigh In On Veritex

A number of large investors have recently made changes to their positions in VBTX. Meeder Asset Management Inc. raised its position in Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 481 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Veritex by 2.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,978 shares of the financial services provider's stock valued at $521,000 after purchasing an additional 530 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Veritex by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after purchasing an additional 536 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Veritex by 7.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider's stock valued at $303,000 after buying an additional 751 shares during the period. Finally, Quarry LP raised its stake in Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after buying an additional 824 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

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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