Veritex Holdings, Inc. (NASDAQ:VBTX) COO Lavonda Renfro Sells 53,411 Shares

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) COO Lavonda Renfro sold 53,411 shares of Veritex stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the completion of the transaction, the chief operating officer directly owned 60,209 shares in the company, valued at $1,949,567.42. This represents a 47.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Veritex Stock Down 1.2%

Shares of VBTX stock traded down $0.39 on Thursday, reaching $32.10. 1,045,555 shares of the company's stock traded hands, compared to its average volume of 1,416,271. The company has a market capitalization of $1.74 billion, a P/E ratio of 15.29 and a beta of 1.03. Veritex Holdings, Inc. has a 12-month low of $20.10 and a 12-month high of $33.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. The business's 50 day moving average price is $26.58 and its two-hundred day moving average price is $25.35.

Veritex (NASDAQ:VBTX - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $109.83 million for the quarter, compared to analysts' expectations of $110.91 million. Veritex had a return on equity of 7.59% and a net margin of 14.83%. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders 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 yield of 2.74%. Veritex's payout ratio is 41.90%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VBTX. William Blair upgraded shares of Veritex to an "outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday. The Goldman Sachs Group assumed coverage on Veritex in a research report on Monday, July 14th. They set a "buy" rating on the stock. Raymond James Financial cut Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Finally, Stephens restated an "equal weight" rating and set a $30.00 price objective on shares of Veritex in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Hedge Funds Weigh In On Veritex

Several institutional investors and hedge funds have recently modified their holdings of VBTX. Vanguard Group Inc. raised its holdings in shares of Veritex by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider's stock worth $98,172,000 after acquiring an additional 56,676 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Veritex by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock valued at $76,149,000 after purchasing an additional 125,189 shares in the last quarter. Victory Capital Management Inc. increased its position in Veritex by 3.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock worth $50,960,000 after purchasing an additional 59,056 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Veritex by 57.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after purchasing an additional 454,015 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Veritex by 22.7% during the 1st quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider's stock valued at $29,598,000 after buying an additional 218,962 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

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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