1900 Wealth Management LLC Sells 6,778 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

1900 Wealth Management LLC cut its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 22.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,569 shares of the financial services provider’s stock after selling 6,778 shares during the quarter. 1900 Wealth Management LLC’s holdings in Veritex were worth $548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VBTX. Vanguard Group Inc. raised its holdings in shares of Veritex by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,719,181 shares of the financial services provider’s stock valued at $66,759,000 after purchasing an additional 47,336 shares during the last quarter. Victory Capital Management Inc. grew its stake in Veritex by 33.1% during the third quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock valued at $30,916,000 after acquiring an additional 427,922 shares in the last quarter. LSV Asset Management grew its stake in Veritex by 25.0% in the 3rd quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after buying an additional 318,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Veritex by 14.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 573,786 shares of the financial services provider’s stock valued at $10,299,000 after purchasing an additional 71,275 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Veritex by 11.4% during the 3rd quarter. HighTower Advisors LLC now owns 552,591 shares of the financial services provider’s stock valued at $9,920,000 after buying an additional 56,518 shares during the last quarter. 88.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

VBTX has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Stephens restated an “equal weight” rating and set a $24.00 target price on shares of Veritex in a research note on Monday, April 1st. StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Piper Sandler lifted their price objective on shares of Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.13.

Veritex Stock Up 1.6 %

Shares of VBTX traded up $0.33 during midday trading on Tuesday, hitting $20.63. The company had a trading volume of 39,089 shares, compared to its average volume of 422,163. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97. Veritex Holdings, Inc. has a 1 year low of $14.88 and a 1 year high of $24.46. The firm has a market capitalization of $1.12 billion, a P/E ratio of 10.25 and a beta of 1.34. The company’s 50-day simple moving average is $19.85 and its 200-day simple moving average is $20.26.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $77.74 million during the quarter, compared to analysts’ expectations of $110.67 million. Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, sell-side analysts expect that Veritex Holdings, Inc. will post 2.24 EPS for the current year.

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.