Amalgamated Bank Sells 506 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Amalgamated Bank decreased its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,028 shares of the financial services provider’s stock after selling 506 shares during the quarter. Amalgamated Bank’s holdings in Veritex were worth $422,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Westwood Holdings Group Inc. grew its stake in Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after buying an additional 235,154 shares during the last quarter. Vanguard Group Inc. grew its position in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after acquiring an additional 23,222 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Veritex during the 2nd quarter valued at $566,000. Renaissance Technologies LLC acquired a new stake in Veritex during the 2nd quarter valued at $730,000. Finally, AQR Capital Management LLC raised its position in Veritex by 66.5% in the 2nd quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider’s stock valued at $8,944,000 after purchasing an additional 169,448 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

Insider Activity at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Veritex Stock Performance

VBTX stock opened at $29.27 on Friday. Veritex Holdings, Inc. has a twelve month low of $18.08 and a twelve month high of $30.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.59 billion, a P/E ratio of 18.76 and a beta of 1.36. The business’s fifty day moving average is $26.68 and its 200-day moving average is $23.52.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. Equities research analysts forecast that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, November 8th. Veritex’s payout ratio is 51.28%.

Analyst Upgrades and Downgrades

VBTX has been the topic of several research analyst reports. Stephens increased 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. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler raised their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

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.