BNP Paribas Financial Markets Raises Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

BNP Paribas Financial Markets boosted its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 37.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,559 shares of the financial services provider’s stock after buying an additional 15,403 shares during the period. BNP Paribas Financial Markets owned 0.10% of Veritex worth $1,489,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in VBTX. Price T Rowe Associates Inc. MD increased its position in Veritex by 9.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,014 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 2,162 shares during the period. CWM LLC grew its holdings in shares of Veritex by 1,302.9% in the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 3,101 shares during the period. Wedge Capital Management L L P NC increased its holdings in Veritex by 2.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 114,757 shares of the financial services provider’s stock valued at $2,420,000 after acquiring an additional 2,574 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Veritex by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Veritex by 60.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,831 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 4,099 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Insider Buying and Selling

In other Veritex news, 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 transaction 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 $1,894,950.75. The trade was a 21.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm’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 transaction of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Veritex Trading Up 0.4 %

VBTX opened at $30.45 on Monday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.52 and a beta of 1.38. The firm’s 50 day moving average is $28.13 and its 200-day moving average is $24.55. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 52-week low of $18.08 and a 52-week high of $31.62.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data 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 analyst estimates of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Analysts expect that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.63%. Veritex’s dividend payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

VBTX has been the subject of a number of recent research reports. 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 report on Thursday, October 24th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. DA Davidson increased their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

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.