Insider Selling: Veritex (NASDAQ:VBTX) Director Sells 3,617 Shares of Stock

Key Points

• Veritex Director Arcilia Acosta sold 3,617 shares at an average price of $34.33 on August 28th, totaling $124,171.61, with prior sales also occurring in July.
• The company reported earnings of $0.64 per share for the last quarter and has a current dividend yield of 2.9%, with a quarterly dividend of $0.22 announced.
• Analysts have a current average rating of "Moderate Buy" for Veritex stock, with price targets ranging from $32.00 to $39.00.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) Director Arcilia Acosta sold 3,617 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $34.33, for a total value of $124,171.61. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Arcilia Acosta also recently made the following trade(s):

• On Thursday, July 24th, Arcilia Acosta sold 51,316 shares of Veritex stock. The stock was sold at an average price of $32.22, for a total value of $1,653,401.52.
• On Tuesday, July 29th, Arcilia Acosta sold 7,279 shares of Veritex stock. The stock was sold at an average price of $32.14, for a total value of $233,947.06.

Veritex Price Performance

Shares of VBTX stock traded up $0.30 on Wednesday, hitting $30.26. 25,682,800 shares of the company's stock were exchanged, compared to its average volume of 2,680,762. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96. Veritex Holdings, Inc. has a 12 month low of $20.37 and a 12 month high of $34.96. The stock has a market cap of $1.66 billion, a P/E ratio of 14.41 and a beta of 1.06. The company has a 50 day moving average of $33.00 and a 200 day moving average of $28.47.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Thursday, March 3rd. The financial services provider reported $0.64 earnings per share for the quarter. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The company had revenue of $64.03 million for the quarter. On average, equities research analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, September 16th. Veritex's payout ratio is currently 41.90%.

Institutional Investors Weigh In On Veritex

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in Veritex by 50.6% in the second quarter. Smartleaf Asset Management LLC now owns 1,042 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 350 shares during the period. Acadian Asset Management LLC acquired a new stake in Veritex in the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its stake in Veritex by 260.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 1,135 shares during the period. GAMMA Investing LLC grew its stake in Veritex by 28.9% in the second 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 during the period. Finally, Strs Ohio acquired a new stake in Veritex in the first quarter valued at approximately $135,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on VBTX shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Veritex in a research note on Wednesday, October 8th. DA Davidson lifted their price objective on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their price objective on Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. William Blair raised Veritex to an "outperform" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group started coverage on Veritex in a research note on Monday, July 14th. They issued a "buy" rating on the stock. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.25.

Veritex Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.