GAMMA Investing LLC Increases Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

GAMMA Investing LLC raised its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 14.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,360 shares of the financial services provider’s stock after purchasing an additional 431 shares during the quarter. GAMMA Investing LLC’s holdings in Veritex were worth $91,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Veritex during the 2nd quarter valued at approximately $25,000. Systematic Financial Management LP purchased a new position in shares of Veritex during the third quarter valued at approximately $98,000. Point72 DIFC Ltd raised its holdings in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 816 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Veritex by 295.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 5,559 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new stake in Veritex in the second quarter valued at $208,000. Institutional investors own 88.31% of the company’s stock.

Insider Transactions at Veritex

In related news, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the sale, the director now owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on VBTX shares. Piper Sandler upped their price objective on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” 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 for the company in a report on Tuesday, September 17th. DA Davidson upped their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Veritex currently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Veritex Trading Down 4.9 %

NASDAQ:VBTX opened at $24.44 on Friday. Veritex Holdings, Inc. has a one year low of $18.08 and a one year high of $31.62. The company’s 50-day simple moving average is $28.69 and its 200 day simple moving average is $25.84. The firm has a market capitalization of $1.33 billion, a P/E ratio of 15.67 and a beta of 1.38. 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 issued 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. The firm had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. As a group, analysts forecast that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. Veritex’s payout ratio is presently 51.28%.

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.