Basswood Capital Management L.L.C. Acquires New Shares in Veritex Holdings, Inc. (NASDAQ:VBTX)

Basswood Capital Management L.L.C. acquired a new position in Veritex Holdings, Inc. (NASDAQ:VBTX) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 423,227 shares of the financial services provider’s stock, valued at approximately $11,139,000.

Several other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of 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 valued at $196,000 after acquiring an additional 5,559 shares during the last quarter. Verition Fund Management LLC grew its holdings in Veritex by 748.1% during the third quarter. Verition Fund Management LLC now owns 125,249 shares of the financial services provider’s stock valued at $3,297,000 after purchasing an additional 110,480 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Veritex by 37.4% in the third quarter. BNP Paribas Financial Markets now owns 56,559 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 15,403 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Veritex by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider’s stock worth $19,289,000 after buying an additional 12,286 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Veritex by 16.9% in the third quarter. Intech Investment Management LLC now owns 25,391 shares of the financial services provider’s stock worth $668,000 after buying an additional 3,671 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Veritex Trading Down 0.2 %

Shares of VBTX opened at $30.41 on Monday. The stock’s 50-day moving average price is $27.69 and its 200 day moving average price is $24.24. 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 firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.49 and a beta of 1.36. Veritex Holdings, Inc. has a 12-month low of $18.08 and a 12-month high of $31.62.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business 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%. Veritex’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, research analysts predict that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s payout ratio is 51.28%.

Insider Transactions at Veritex

In other news, CEO C Malcolm Holland III sold 12,777 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 224,132 shares in the company, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is owned by 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.