Veritex Holdings, Inc. (NASDAQ:VBTX) Director John Sughrue Sells 16,820 Shares

Veritex Holdings, Inc. (NASDAQ:VBTX) Director John Sughrue sold 16,820 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at approximately $1,894,950.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Veritex Trading Down 0.6 %

Shares of NASDAQ:VBTX traded down $0.19 during midday trading on Tuesday, reaching $30.34. 565,276 shares of the company’s stock were exchanged, compared to its average volume of 406,588. The firm’s 50 day simple moving average is $26.25 and its two-hundred day simple moving average is $23.30. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 19.57 and a beta of 1.36. Veritex Holdings, Inc. has a fifty-two week low of $17.43 and a fifty-two week high of $30.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. Veritex’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, sell-side analysts forecast that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, November 8th. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Hedge Funds Weigh In On Veritex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in shares of Veritex in the 2nd quarter worth approximately $25,000. CWM LLC grew its position in Veritex by 1,302.9% in the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 3,101 shares during the period. Point72 DIFC Ltd raised its stake in shares of Veritex by 16.5% in the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 816 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Veritex during the third quarter worth about $215,000. Finally, Atria Investments Inc purchased a new stake in Veritex in the 3rd quarter valued at approximately $220,000. Institutional investors own 88.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on VBTX shares. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Tuesday, September 17th. Piper Sandler raised their target price on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Stephens raised their price target on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

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.