Point72 Asset Management L.P. Lowers Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Point72 Asset Management L.P. lowered its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 58.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,613 shares of the financial services provider’s stock after selling 6,487 shares during the quarter. Point72 Asset Management L.P.’s holdings in Veritex were worth $121,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in VBTX. Dimensional Fund Advisors LP raised its holdings in Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Veritex by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after buying an additional 9,611 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Veritex by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock valued at $17,446,000 after buying an additional 86,327 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Veritex by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock valued at $21,248,000 after buying an additional 325,569 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Veritex by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider’s stock worth $19,289,000 after acquiring an additional 12,286 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.

Insiders Place Their Bets

In other news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares of the company’s stock, valued at $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.

Veritex Trading Down 0.4 %

Shares of VBTX opened at $29.64 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $28.57 and a 200-day simple moving average of $24.82. Veritex Holdings, Inc. has a 1-year low of $18.08 and a 1-year high of $31.62. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 19.00 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same quarter last year, the business posted $0.60 earnings per share. Veritex’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, November 8th. Veritex’s payout ratio is 51.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VBTX shares. Piper Sandler raised their target price on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. DA Davidson increased their target price on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.40.

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.