Foresters Investment Management Company Inc. trimmed its position in shares of Veritex Holdings Inc (NASDAQ:VBTX) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,100 shares of the financial services provider’s stock after selling 18,100 shares during the period. Foresters Investment Management Company Inc. owned about 0.64% of Veritex worth $8,877,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in VBTX. Penn Capital Management Co. Inc. purchased a new position in Veritex in the 1st quarter worth approximately $7,033,000. Context BH Capital Management LP purchased a new position in Veritex in the 1st quarter worth approximately $3,632,000. Prudential Financial Inc. increased its stake in Veritex by 162.3% in the 2nd quarter. Prudential Financial Inc. now owns 266,774 shares of the financial services provider’s stock worth $6,923,000 after purchasing an additional 165,066 shares during the period. Chicago Equity Partners LLC purchased a new position in Veritex in the 2nd quarter worth approximately $1,791,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Veritex by 24.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,736 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 533 shares during the period. 78.13% of the stock is currently owned by institutional investors.
VBTX traded up $0.05 during midday trading on Friday, reaching $25.37. The company had a trading volume of 35,077 shares, compared to its average volume of 253,932. The company has a market cap of $1.36 billion, a P/E ratio of 13.79 and a beta of 1.57. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $24.01 and a two-hundred day moving average of $25.47. Veritex Holdings Inc has a 1 year low of $20.34 and a 1 year high of $30.98.
Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Veritex had a return on equity of 9.83% and a net margin of 18.42%. The business had revenue of $77.48 million during the quarter, compared to the consensus estimate of $82.50 million. On average, equities research analysts predict that Veritex Holdings Inc will post 2.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 1.97%. Veritex’s payout ratio is currently 27.17%.
Several equities research analysts recently weighed in on the company. ValuEngine lowered Veritex from a “hold” rating to a “sell” rating in a research report on Monday, June 24th. BidaskClub downgraded Veritex from a “sell” rating to a “strong sell” rating in a report on Friday, August 9th. Stephens set a $29.00 target price on Veritex and gave the stock a “buy” rating in a report on Wednesday, September 4th. Raymond James decreased their price target on Veritex from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, Zacks Investment Research cut Veritex from a “buy” rating to a “sell” rating in a research note on Saturday, July 13th. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Veritex currently has an average rating of “Hold” and a consensus target price of $28.67.
In other Veritex news, EVP Angela Harper sold 1,800 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $25.90, for a total transaction of $46,620.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO C Malcolm Holland III sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $25.88, for a total value of $64,700.00. Following the transaction, the chief executive officer now owns 101,777 shares in the company, valued at $2,633,988.76. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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