USA Financial Formulas Acquires Shares of 1,168 Veritex Holdings, Inc. (NASDAQ:VBTX)

USA Financial Formulas bought a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,168 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other large investors have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after buying an additional 18,185 shares in the last quarter. Barclays PLC raised its holdings in shares of Veritex by 63.8% during the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock worth $3,095,000 after acquiring an additional 45,787 shares during the period. GAMMA Investing LLC boosted its position in shares of Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 431 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Veritex by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock valued at $16,618,000 after purchasing an additional 122,809 shares during the period. Finally, Stifel Financial Corp increased its position in Veritex by 4.6% during the third quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock worth $1,279,000 after purchasing an additional 2,115 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Stock Up 0.5 %

Veritex stock opened at $26.35 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of 16.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62. The firm has a 50 day moving average price of $28.44 and a 200 day moving average price of $25.99.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data 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 return on equity of 7.79% and a net margin of 11.11%. The business had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts expect that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. Veritex’s dividend payout ratio is presently 51.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. DA Davidson raised their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler lifted their target price on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Insider Activity

In other Veritex news, Director John Sughrue sold 16,820 shares of the 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 sale, the director now directly owns 62,643 shares in the company, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 $6,206,215.08. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

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.