Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 13.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,922 shares of the financial services provider’s stock after selling 2,444 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Veritex were worth $398,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in 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 buying an additional 56,676 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Veritex by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider’s stock worth $76,149,000 after buying an additional 125,189 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Veritex by 3.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider’s stock worth $50,960,000 after buying an additional 59,056 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Veritex by 57.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock worth $33,675,000 after buying an additional 454,015 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Veritex by 220.5% in the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock worth $26,247,000 after buying an additional 664,885 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on VBTX shares. Piper Sandler restated a “neutral” rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Stephens restated an “equal weight” rating and set a $30.00 target price on shares of Veritex in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods boosted their target price on Veritex from $30.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. William Blair upgraded Veritex to an “outperform” rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group started coverage on Veritex in a report on Monday, July 14th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Veritex Trading Down 1.4%

VBTX opened at $31.95 on Friday. Veritex Holdings, Inc. has a one year low of $20.37 and a one year high of $33.69. The stock has a market capitalization of $1.75 billion, a PE ratio of 15.21 and a beta of 1.08. The business’s 50 day moving average price is $28.90 and its 200 day moving average price is $25.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%. The firm had revenue of $109.83 million for the quarter, compared to analysts’ expectations of $110.91 million. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. Veritex’s payout ratio is presently 41.90%.

Insider Buying and Selling

In other Veritex news, Director Arcilia Acosta sold 7,279 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total value of $233,947.06. Following the sale, the director owned 54,933 shares of the company’s stock, valued at $1,765,546.62. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cara Mcdaniel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total value of $325,300.00. Following the completion of the sale, the insider directly owned 17,372 shares in the company, valued at approximately $565,111.16. The trade was a 36.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,030 shares of company stock valued at $10,180,219 over the last quarter. 4.30% of the stock is owned by corporate insiders.

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.