Veritex Holdings, Inc. (NASDAQ:VBTX) Short Interest Update

Key Points

• Veritex Holdings saw a significant increase of 28.3% in short interest, rising from 1.2 million shares to 1.54 million shares in August, resulting in a short-interest ratio of 1.8 days.
• Analyst ratings for VBTX are generally positive, with five analysts giving a buy rating and an average price target of $33.25, reflecting bullish sentiment in the market.
• The company recently announced a quarterly dividend of $0.22 per share, which translates to an annual yield of 2.6%, with a payout ratio of 41.90%.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,540,000 shares, agrowthof28.3% from the July 31st total of 1,200,000 shares. Based on an average daily trading volume, of 833,000 shares, the short-interest ratio is currently 1.8 days. Based on an average daily trading volume, of 833,000 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analyst Weigh In

VBTX has been the topic of several analyst reports. DA Davidson increased 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 set a $34.00 price target (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. William Blair upgraded Veritex to an "outperform" rating in a report on Monday, July 14th. The Goldman Sachs Group initiated coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Veritex currently has an average rating of "Moderate Buy" and an average price target of $33.25.

Veritex Trading Up 0.5%

Shares of Veritex stock opened at $34.39 on Tuesday. The company's fifty day simple moving average is $31.65 and its 200-day simple moving average is $26.72. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 16.38 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex has a 1 year low of $20.37 and a 1 year high of $34.96.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $109.83 million for 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 7.55%. During the same quarter last year, the company posted $0.52 earnings per share. As a group, sell-side analysts expect that Veritex will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Veritex's payout ratio is currently 41.90%.

Insider Transactions at Veritex

In related news, 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 value of $233,947.06. Following the transaction, the director owned 54,933 shares in the company, valued at approximately $1,765,546.62. This represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Angela Harper sold 47,716 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total value of $1,544,566.92. Following the completion of the transaction, the executive vice president owned 59,683 shares in the company, valued at $1,931,938.71. This represents a 44.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,699 shares of company stock valued at $10,361,627 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Veritex

A number of institutional investors have recently bought and sold shares of VBTX. Nuveen LLC acquired a new stake in Veritex during the first quarter worth $29,215,000. Millennium Management LLC boosted its stake in Veritex by 220.5% during the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock worth $26,247,000 after buying an additional 664,885 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Veritex by 1,813.1% during the first quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider's stock worth $15,353,000 after buying an additional 582,733 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Veritex during the fourth quarter worth $14,644,000. Finally, Nuveen Asset Management LLC boosted its stake in Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after buying an additional 454,015 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company's stock.

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.

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.