Insider Selling: Veritex Holdings, Inc. (NASDAQ:VBTX) Director Sells 16,820 Shares of Stock

Veritex Holdings, Inc. (NASDAQ:VBTX) Director John Sughrue sold 16,820 shares of the firm’s 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 approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Veritex Stock Performance

NASDAQ:VBTX opened at $29.41 on Friday. The stock has a fifty day moving average price of $26.47 and a 200-day moving average price of $23.41. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 18.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $30.86.

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

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.72%. Veritex’s payout ratio is 51.28%.

Hedge Funds Weigh In On Veritex

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of Veritex during the 2nd quarter worth $25,000. CWM LLC raised its holdings in shares of Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after buying an additional 3,101 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of Veritex by 16.5% during the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after buying an additional 816 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Veritex by 295.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after buying an additional 5,559 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Veritex during the 3rd quarter worth $215,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VBTX shares. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. DA Davidson lifted their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. Stephens boosted their target price on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.