Harbor Capital Advisors Inc. Cuts Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Harbor Capital Advisors Inc. reduced its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,065 shares of the financial services provider’s stock after selling 1,892 shares during the period. Harbor Capital Advisors Inc.’s holdings in Veritex were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 431 shares during the period. Systematic Financial Management LP acquired a new stake in Veritex in the 3rd quarter worth about $98,000. Meeder Asset Management Inc. lifted its position in shares of Veritex by 319.3% in the third quarter. Meeder Asset Management Inc. now owns 4,885 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 3,720 shares in the last quarter. Point72 DIFC Ltd raised its stake in Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 816 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Veritex by 295.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 5,559 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Stock Up 4.3 %

Shares of NASDAQ:VBTX opened at $25.88 on Wednesday. The firm has a market capitalization of $1.41 billion, a PE ratio of 16.59 and a beta of 1.38. Veritex Holdings, Inc. has a 1 year low of $18.08 and a 1 year 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. The firm’s 50-day moving average is $28.64 and its two-hundred day moving average is $25.94.

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 the consensus estimate 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 net margin of 11.11% and a return on equity of 7.79%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Analysts predict 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 was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given 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 3.09%. Veritex’s dividend payout ratio (DPR) is currently 51.28%.

Analyst Upgrades and Downgrades

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

Insider Activity at Veritex

In other Veritex news, Director John Sughrue sold 16,820 shares of the firm’s 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 transaction, the director now owns 62,643 shares of the company’s stock, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s 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 sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

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.