LMR Partners LLP Invests $276,000 in Veritex Holdings, Inc. (NASDAQ:VBTX)

LMR Partners LLP acquired a new position in Veritex Holdings, Inc. (NASDAQ:VBTX) during the third quarter, Holdings Channel reports. The firm acquired 10,501 shares of the financial services provider’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of VBTX. SG Americas Securities LLC bought a new stake in shares of Veritex in the 1st quarter worth $177,000. ProShare Advisors LLC raised its stake in shares of Veritex by 7.4% in 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Veritex by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after buying an additional 23,222 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Veritex by 16.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after buying an additional 235,154 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Veritex by 5.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 37,000 shares of the financial services provider’s stock worth $758,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.

Veritex Stock Down 0.3 %

Shares of Veritex stock opened at $28.98 on Thursday. The stock has a 50-day moving average price of $26.98 and a 200 day moving average price of $23.73. The company has a market cap of $1.58 billion, a P/E ratio of 18.58 and a beta of 1.36. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 1 year low of $18.08 and a 1 year high of $30.86.

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

Veritex Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VBTX shares. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, September 17th. DA Davidson boosted their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Stephens boosted their target price on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Insiders Place Their Bets

In other Veritex news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

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.