Solutions 4 Wealth Ltd Trims Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Solutions 4 Wealth Ltd lessened its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 20.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 41,670 shares of the financial services provider’s stock after selling 11,033 shares during the quarter. Veritex accounts for approximately 2.0% of Solutions 4 Wealth Ltd’s holdings, making the stock its 10th largest position. Solutions 4 Wealth Ltd’s holdings in Veritex were worth $1,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its stake in Veritex by 56.2% in the 2nd quarter. Millennium Management LLC now owns 292,499 shares of the financial services provider’s stock worth $6,169,000 after acquiring an additional 105,261 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Veritex by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 26,684 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 1,605 shares during the last quarter. SG Americas Securities LLC bought a new stake in Veritex in the third quarter worth $949,000. CWM LLC raised its stake in Veritex by 163.8% during the third quarter. CWM LLC now owns 8,808 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 5,469 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Veritex during the third quarter valued at $240,000. Institutional investors own 88.31% of the company’s stock.

Veritex Stock Down 0.1 %

NASDAQ:VBTX opened at $27.64 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 14.17 and a beta of 1.38. Veritex Holdings, Inc. has a twelve month low of $18.08 and a twelve month high of $31.62. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $27.60 and a 200-day simple moving average of $26.44.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. Analysts anticipate that Veritex Holdings, Inc. will post 2.25 EPS for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.80 annualized dividend and a yield of 2.89%. Veritex’s dividend payout ratio (DPR) is currently 41.03%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VBTX shares. Piper Sandler upped their target price on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Hovde Group raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a research note on Thursday, January 30th. Stephens cut their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. DA Davidson dropped their price objective on shares of Veritex from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Insiders Place Their Bets

In other news, Director John Sughrue sold 16,820 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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 in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.60% of the stock is currently owned by company insiders.

Veritex 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.