Insider Selling: Veritex (NASDAQ:VBTX) Director Sells $124,171.61 in Stock

Veritex Holdings, Inc. (NASDAQ:VBTX) Director Arcilia Acosta sold 3,617 shares of Veritex stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $34.33, for a total transaction of $124,171.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arcilia Acosta also recently made the following trade(s):

• On Thursday, July 24th, Arcilia Acosta sold 51,316 shares of Veritex stock. The shares were sold at an average price of $32.22, for a total transaction of $1,653,401.52.
• On Tuesday, July 29th, Arcilia Acosta sold 7,279 shares of Veritex stock. The shares were sold at an average price of $32.14, for a total transaction of $233,947.06.

Veritex Trading Up 1.0%

NASDAQ VBTX opened at $30.26 on Friday. Veritex Holdings, Inc. has a one year low of $20.37 and a one year high of $34.96. The company has a 50-day simple moving average of $32.93 and a 200-day simple moving average of $28.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.66 billion, a PE ratio of 14.41 and a beta of 1.06.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Thursday, March 3rd. The financial services provider reported $0.64 EPS for the quarter. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The business had revenue of $64.03 million during the quarter. On average, equities analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Veritex’s payout ratio is 41.90%.

Institutional Trading of Veritex

Institutional investors have recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Veritex in the 1st quarter worth approximately $6,621,000. CWM LLC lifted its stake in shares of Veritex by 23.8% in the 1st quarter. CWM LLC now owns 13,823 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 2,653 shares during the period. Foundry Partners LLC acquired a new stake in shares of Veritex in the 1st quarter worth approximately $381,000. Wellington Management Group LLP lifted its stake in shares of Veritex by 3.2% in the 1st quarter. Wellington Management Group LLP now owns 626,638 shares of the financial services provider’s stock worth $15,647,000 after acquiring an additional 19,689 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Veritex by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider’s stock worth $98,172,000 after acquiring an additional 56,676 shares during the period. 88.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VBTX. DA Davidson boosted their target price on shares of Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Veritex in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. William Blair raised shares of Veritex to an “outperform” rating in a research note on Monday, July 14th. Finally, Piper Sandler reissued a “neutral” rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

About Veritex

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.