Qube Research & Technologies Ltd reduced its stake in Veritex Holdings, Inc. (NASDAQ: VBTX – Get Rating) by 60.7% in Q1, according to its latest communication with the Securities and Exchange Commission (SEC). The institutional investor held 15,996 shares of the financial services provider after selling 24,735 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Veritex were worth $611,000 at the end of the most recent reporting period.
Several other institutional investors also changed their stake in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Veritex by 43.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,288 shares of the financial services provider worth $290,000 after purchasing an additional 2,204 shares during the period. Nisa Investment Advisors LLC increased its stake in Veritex shares to 91.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,450 shares of the financial services provider worth $219,000 after acquiring an additional 2,600 shares during the period. The Toronto Dominion Bank acquired a new stake in Veritex in the 4th quarter at a value of $617,000. Envestnet Asset Management Inc. increased its stake in Veritex by 6.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,522 shares of the financial services provider worth $975,000 after purchasing an additional 1,571 shares during the period. Finally, M&T Bank Corp bought a new position in Veritex during the 4th quarter for a value of approximately $294,000. Institutional investors hold 77.53% of the company’s shares.
Veritex down 2.1%
NASDAQ:VBTX opened at $32.89 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt ratio of 0.86. The company has a 50-day moving average price of $30.72 and a two-hundred-day moving average price of $34.56. Veritex Holdings, Inc. has a 12-month low of $26.99 and a 12-month high of $45.36. The company has a market capitalization of $1.78 billion, a P/E ratio of 12.00 and a beta of 1.46.
Veritex (NASDAQ:VBTX – Get Rating) last released its quarterly earnings data on Wednesday, July 27. The financial services provider reported earnings per share (EPS) of $0.55 for the quarter, missing analyst consensus estimates of $0.69 per ($0.14). The company posted revenue of $94.86 million in the quarter, versus analyst estimates of $98.34 million. Veritex had a net margin of 35.73% and a return on equity of 10.32%. The company’s quarterly revenue increased 9.2% year over year. In the same period a year earlier, the company had earned earnings per share of $0.60. As a group, analysts expect Veritex Holdings, Inc. to post EPS of 2.86 for the current fiscal year.
Veritex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26. Shareholders of record on Friday, August 12 will receive a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 2.43%. The ex-dividend date is Thursday, August 11. Veritex’s payout ratio is currently 29.20%.
Analysts set new price targets
Several research analysts have recently weighed in on VBTX shares. Raymond James upgraded Veritex from a ‘strong buy’ rating to an ‘outperform’ rating and cut its price target for the stock from $43.00 to $38.00 in a Thursday, July 7 research report . Piper Sandler cut her price target on Veritex to $39.00 in a Monday, July 4 research report. Finally, StockNews.com downgraded Veritex from a “held” rating to a “sell” rating in a Thursday, July 28 research report.
Insider Trading at Veritex
Separately, CFO Terry Earley bought 1,180 shares in a trade on Friday, July 29. The shares were purchased at an average cost of $30.50 per share, with a total value of $35,990.00. Following the acquisition, the CFO now directly owns 7,980 shares of the company, valued at $243,390. The acquisition was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news, CEO C Malcolm Holland III sold 5,528 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $35.05, for a total value of $193,756.40. Following the completion of the sale, the CEO now owns 154,431 shares of the company, valued at $5,412,806.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Additionally, CFO Terry Earley purchased 1,180 shares of the company in a transaction that took place on Friday, July 29. The shares were acquired at an average price of $30.50 per share, for a total transaction of $35,990.00. Following the completion of the purchase, the CFO now directly owns 7,980 shares of the company, valued at approximately $243,390. Disclosure of this purchase can be found here. 3.38% of the shares are currently held by company insiders.
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Veritex Holdings, Inc operates as a bank holding company for Veritex Community Bank which provides various commercial banking products and services to small and medium businesses and professionals. The Company accepts deposit products including current, savings, money market and term accounts. Its lending products include Commercial and General Commercial Real Estate, Warehouse Mortgages, Residential Real Estate, Construction and Land, Farmland, Consumer, Paycheck Protection Program, Residential Lending for 1 to 4 families, agricultural, multi-family residential and consumer, as well as in the form of purchased receivables financing.
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