Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,150 shares of the financial services provider’s stock after selling 1,644 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.17% of Veritex worth $2,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Veritex during the 2nd quarter valued at about $25,000. CWM LLC raised its stake in shares of Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 3,101 shares during the period. Point72 DIFC Ltd lifted its position 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 worth $122,000 after purchasing an additional 816 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Veritex in the first quarter valued at $177,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Veritex during the 2nd quarter valued at $208,000. Institutional investors and hedge funds 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 the firm’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 transaction, the chief executive officer now owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction on 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 sale, the director now owns 62,643 shares in the company, valued at $1,894,950.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VBTX shares. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. DA Davidson increased their price target on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Stephens upped their target price on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Piper Sandler raised their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Trading Down 1.5 %

NASDAQ:VBTX opened at $29.88 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of 19.16 and a beta of 1.36. The business’s 50 day moving average is $26.36 and its two-hundred day moving average is $23.37. 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 $30.86.

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

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

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.