John Sughrue Sells 5,669 Shares of Veritex (NASDAQ:VBTX) Stock

Key Points

• Director John Sughrue sold 5,669 shares of Veritex Holdings, Inc. for a total of $181,408, reducing his position by 10.07%.
• Veritex recently reported a quarterly EPS of $0.56, exceeding analysts' estimates, and declared a quarterly dividend of $0.22 with a yield of 2.7%.
• Wall Street analysts have a largely positive outlook on Veritex, with the average price target set at $33.25 and several brokerages issuing “buy” ratings.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) Director John Sughrue sold 5,669 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.00, for a total value of $181,408.00. Following the completion of the transaction, the director owned 50,652 shares of the company's stock, valued at approximately $1,620,864. This represents a 10.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Veritex Stock Down 0.2%

Shares of VBTX traded down $0.08 during trading on Tuesday, reaching $32.08. The company's stock had a trading volume of 259,408 shares, compared to its average volume of 564,652. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 15.27 and a beta of 1.08. Veritex Holdings, Inc. has a twelve month low of $20.37 and a twelve month high of $33.69. The company has a fifty day moving average of $29.04 and a two-hundred day moving average of $25.98.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The firm had revenue of $109.83 million during the quarter, compared to the consensus estimate of $110.91 million. During the same period in the prior year, the business earned $0.52 EPS. On average, sell-side analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.22 dividend. The ex-dividend date is Thursday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. Veritex's dividend payout ratio (DPR) is 41.90%.

Institutional Trading of Veritex

A number of institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 350 shares during the last quarter. Teza Capital Management LLC boosted its position in shares of Veritex by 5.1% during the second quarter. Teza Capital Management LLC now owns 9,434 shares of the financial services provider's stock valued at $246,000 after buying an additional 454 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Veritex by 2.7% in the second quarter. Harbor Capital Advisors Inc. now owns 19,978 shares of the financial services provider's stock worth $521,000 after purchasing an additional 530 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Veritex by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after buying an additional 536 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Veritex by 7.2% during the 4th 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 last quarter. 88.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VBTX. DA Davidson lifted their price target on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Piper Sandler reiterated a "neutral" rating and issued a $34.00 price target (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating on the stock. William Blair raised Veritex to an "outperform" rating in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods increased their target price 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.

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