Veritex Holdings, Inc. (NASDAQ:VBTX) CEO Sells $2,068,365.00 in Stock

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) CEO C Malcolm Holland III sold 63,642 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $32.50, for a total value of $2,068,365.00. Following the transaction, the chief executive officer owned 294,508 shares in the company, valued at $9,571,510. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, July 22nd, C Malcolm Holland III sold 125,762 shares of Veritex stock. The shares were sold at an average price of $32.26, for a total value of $4,057,082.12.

Veritex Trading Down 1.2%

NASDAQ VBTX traded down $0.39 during trading hours on Thursday, hitting $32.10. 1,045,555 shares of the company were exchanged, compared to its average volume of 1,416,271. Veritex Holdings, Inc. has a 52 week low of $20.10 and a 52 week high of $33.69. The stock has a 50-day moving average price of $26.58 and a 200 day moving average price of $25.35. The stock has a market cap of $1.74 billion, a PE ratio of 15.29 and a beta of 1.03. 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 (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. The company had revenue of $109.83 million during the quarter, compared to the consensus estimate of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.59%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio is currently 41.90%.

Institutional Investors Weigh In On Veritex

Several hedge funds have recently modified their holdings of the company. Deutsche Bank AG lifted its stake in Veritex by 48.7% in the 4th quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider's stock valued at $1,294,000 after buying an additional 15,596 shares in the last quarter. SG Americas Securities LLC purchased a new position in Veritex in the 1st quarter valued at approximately $1,085,000. Canada Pension Plan Investment Board purchased a new position in Veritex in the 4th quarter valued at approximately $1,057,000. Handelsbanken Fonder AB purchased a new position in Veritex in the 1st quarter valued at approximately $227,000. Finally, Foundry Partners LLC purchased a new position in Veritex in the 1st quarter valued at approximately $381,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VBTX shares. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 target price (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Raymond James Financial lowered Veritex from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd. William Blair raised Veritex to an "outperform" rating in a research report on Monday, July 14th. Finally, DA Davidson increased their target price on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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