Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 77.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,283 shares of the financial services provider’s stock after selling 24,454 shares during the quarter. Quest Partners LLC’s holdings in Veritex were worth $154,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in Veritex during the first quarter worth about $29,000. Cape Investment Advisory Inc. acquired a new stake in shares of Veritex in the 4th quarter worth approximately $52,000. CWM LLC increased its stake in Veritex by 1,302.9% in the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 3,101 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in Veritex by 363,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 3,635 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new position in Veritex during the fourth quarter worth $198,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Price Performance

NASDAQ:VBTX opened at $24.91 on Tuesday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 14.48 and a beta of 1.37. Veritex Holdings, Inc. has a 12-month low of $15.93 and a 12-month high of $25.84. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $23.56 and its two-hundred day moving average is $21.34.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The firm’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Research analysts expect that Veritex Holdings, Inc. will post 2.14 EPS for the current year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Friday, August 9th. Veritex’s dividend payout ratio is currently 46.51%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VBTX shares. Stephens raised their price target on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Piper Sandler lifted their price objective on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.50.

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.