Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by State Street Corp

State Street Corp reduced its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,413,109 shares of the financial services provider’s stock after selling 127,099 shares during the period. State Street Corp owned approximately 4.43% of Veritex worth $63,513,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Basswood Capital Management L.L.C. acquired a new position in Veritex during the third quarter valued at approximately $11,139,000. F M Investments LLC purchased a new stake in Veritex during the 2nd quarter worth $8,483,000. Assenagon Asset Management S.A. boosted its position in Veritex by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after purchasing an additional 325,569 shares during the period. Dimensional Fund Advisors LP increased its holdings in Veritex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock valued at $51,566,000 after purchasing an additional 299,562 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in Veritex in the second quarter valued at about $3,908,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VBTX shares. DA Davidson increased their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Piper Sandler lifted their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Veritex has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Veritex Trading Down 7.0 %

NASDAQ VBTX opened at $27.07 on Thursday. The company’s fifty day moving average price is $28.78 and its two-hundred day moving average price is $25.03. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 17.35 and a beta of 1.38. Veritex Holdings, Inc. has a 12 month low of $18.08 and a 12 month high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

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

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Friday, November 8th. Veritex’s dividend payout ratio is currently 51.28%.

Insider Buying and Selling

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

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.