Veritex Holdings, Inc. (NASDAQ:VBTX – Get Free Report)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $26.94, but opened at $24.58. Veritex shares last traded at $25.91, with a volume of 115,291 shares changing hands.
The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a net margin of 11.11% and a return on equity of 7.79%.
Veritex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, February 14th. Veritex’s payout ratio is currently 51.28%.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on Veritex
Insiders Place Their Bets
In other news, Director John Sughrue sold 16,820 shares of the business’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 value of $508,805.00. Following the completion of the sale, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.60% of the company’s stock.
Institutional Trading of Veritex
Several institutional investors have recently added to or reduced their stakes in VBTX. Strategic Financial Concepts LLC bought a new stake in shares of Veritex in the 4th quarter valued at about $509,000. Salzhauer Michael increased its stake in Veritex by 47.2% in the 4th quarter. Salzhauer Michael now owns 49,177 shares of the financial services provider’s stock worth $1,336,000 after purchasing an additional 15,779 shares during the period. Empowered Funds LLC lifted its position in Veritex by 19.0% in the fourth quarter. Empowered Funds LLC now owns 173,323 shares of the financial services provider’s stock valued at $4,707,000 after purchasing an additional 27,685 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Veritex during the fourth quarter valued at approximately $45,000. Finally, KBC Group NV boosted its stake in shares of Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,621 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.
Veritex Price Performance
The firm’s fifty day moving average price is $27.96 and its 200-day moving average price is $26.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.46 billion, a P/E ratio of 17.19 and a beta of 1.38.
Veritex Company 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.
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