Tieton Capital Management LLC Decreases Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Tieton Capital Management LLC cut its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 263,948 shares of the financial services provider’s stock after selling 690 shares during the period. Veritex makes up about 3.6% of Tieton Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Tieton Capital Management LLC owned about 0.49% of Veritex worth $6,947,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VBTX. Sippican Capital Advisors raised its holdings in shares of Veritex by 0.4% during the third quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock valued at $2,612,000 after purchasing an additional 400 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in 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 valued at $578,000 after buying an additional 500 shares during the last quarter. ProShare Advisors LLC increased its holdings in Veritex by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock valued at $218,000 after buying an additional 728 shares during the last quarter. Point72 DIFC Ltd increased its holdings in Veritex by 16.5% during the second 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. purchased a new stake in Veritex during the second quarter valued at approximately $25,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Trading Up 2.4 %

Shares of VBTX opened at $30.07 on Friday. Veritex Holdings, Inc. has a twelve month low of $18.08 and a twelve month high of $30.86. The company has a market cap of $1.64 billion, a P/E ratio of 19.28 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. The company’s fifty day simple moving average is $27.19 and its 200-day simple moving average is $23.84.

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

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Friday, November 8th. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. This trade represents a 5.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, 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. 4.60% of the stock is owned by company 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.