Royce & Associates LP Sells 15,241 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Royce & Associates LP decreased its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 32.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,816 shares of the financial services provider’s stock after selling 15,241 shares during the period. Royce & Associates LP owned approximately 0.06% of Veritex worth $837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sippican Capital Advisors lifted its holdings in shares of Veritex by 0.4% in the third quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock worth $2,612,000 after acquiring an additional 400 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Veritex by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 500 shares during the period. ProShare Advisors LLC lifted its holdings in Veritex by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock worth $218,000 after buying an additional 728 shares during the period. Point72 DIFC Ltd grew its position in shares of Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Veritex in the second quarter valued at about $25,000. 88.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares in the company, valued at approximately $6,206,215.08. This represents a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction 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 transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, September 17th. DA Davidson lifted their target price on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.40.

Veritex Stock Performance

Shares of VBTX opened at $28.98 on Thursday. Veritex Holdings, Inc. has a one year low of $18.08 and a one year high of $30.86. The company has a market cap of $1.58 billion, a PE ratio of 18.58 and a beta of 1.36. The stock has a 50-day moving average of $26.98 and a 200-day moving average of $23.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The firm had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, November 8th. Veritex’s dividend payout ratio (DPR) is 51.28%.

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.