Insider Selling: Veritex Holdings, Inc. (NASDAQ:VBTX) Director Sells 7,279 Shares of Stock

Key Points

• Arcilia Acosta, a director at Veritex Holdings, sold 7,279 shares of the company’s stock for a total of $233,947.06, representing an 11.70% decrease in her ownership.
• Veritex announced a quarterly dividend of $0.22 per share, with an ex-dividend date of August 7th, which results in an annualized dividend yield of 2.75%.
• Investment analysts have issued a mixed outlook on Veritex, with a "Moderate Buy" average rating and price targets ranging from $32 to $39 following upgrades by several brokerages.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) Director Arcilia Acosta sold 7,279 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total transaction of $233,947.06. Following the transaction, the director directly owned 54,933 shares in the company, valued at approximately $1,765,546.62. This represents a 11.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Veritex Stock Up 1.2%

VBTX traded up $0.36 during trading hours on Monday, reaching $31.28. 102,393 shares of the stock traded hands, compared to its average volume of 553,130. The firm's fifty day simple moving average is $27.47 and its two-hundred day simple moving average is $25.61. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 14.88 and a beta of 1.08. Veritex Holdings, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. The business had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.59%. During the same period last year, the business earned $0.52 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio is 41.90%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VBTX. Acadian Asset Management LLC bought a new position in Veritex during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in Veritex during the 1st quarter valued at $31,000. Quarry LP boosted its stake in Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 824 shares during the last quarter. GAMMA Investing LLC boosted its stake in Veritex by 28.9% during the 2nd 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 last quarter. Finally, Strs Ohio bought a new position in Veritex during the 1st quarter valued at $135,000. 88.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VBTX. Stephens reissued an "equal weight" rating and issued a $30.00 price objective on shares of Veritex in a research report on Wednesday, April 23rd. Piper Sandler reissued a "neutral" rating and issued a $34.00 price objective (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, DA Davidson increased their price objective on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.