Exchange Traded Concepts LLC Decreases Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Exchange Traded Concepts LLC cut its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 31.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,636 shares of the financial services provider’s stock after selling 5,382 shares during the period. Exchange Traded Concepts LLC’s holdings in Veritex were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of VBTX. Meeder Asset Management Inc. acquired a new position in Veritex during the second quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Veritex in the first quarter worth about $29,000. CWM LLC boosted its stake in shares of 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 buying an additional 3,101 shares during the last quarter. Point72 DIFC Ltd grew its holdings in Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 816 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Veritex during the first quarter valued at approximately $177,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Trading Down 1.8 %

Shares of VBTX stock opened at $27.52 on Monday. Veritex Holdings, Inc. has a fifty-two week low of $15.93 and a fifty-two week high of $28.09. The company has a 50 day moving average price of $24.85 and a 200 day moving average price of $22.40. The stock has a market capitalization of $1.50 billion, a P/E ratio of 17.20 and a beta of 1.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Equities research analysts predict that Veritex Holdings, Inc. will post 2.13 EPS for the current fiscal year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio (DPR) is currently 50.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on VBTX. Piper Sandler lifted their price objective on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stephens lifted their price target on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. DA Davidson reiterated a “buy” rating and set a $29.00 price target on shares of Veritex in a research report on Wednesday, August 28th. Finally, Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.00.

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.