Commerce Bank lessened its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX – Free Report) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,066 shares of the financial services provider’s stock after selling 3,875 shares during the quarter. Commerce Bank’s holdings in Veritex were worth $220,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in VBTX. Raymond James & Associates boosted its stake in shares of Veritex by 13.3% during the 1st quarter. Raymond James & Associates now owns 7,964 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 933 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Veritex by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 582,539 shares of the financial services provider’s stock worth $22,236,000 after acquiring an additional 2,318 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Veritex by 12.3% during the 1st quarter. Citigroup Inc. now owns 43,767 shares of the financial services provider’s stock worth $1,670,000 after acquiring an additional 4,799 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Veritex by 788.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 18,321 shares of the financial services provider’s stock worth $700,000 after acquiring an additional 16,259 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new stake in shares of Veritex during the 1st quarter worth about $384,000. Institutional investors own 86.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on VBTX shares. Hovde Group downgraded Veritex from an “outperform” rating to a “market perform” rating and set a $20.50 price target on the stock. in a research report on Wednesday, July 5th. StockNews.com downgraded shares of Veritex from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. TheStreet lowered shares of Veritex from a “b-” rating to a “c+” rating in a research report on Monday, May 1st. Finally, Stephens increased their price target on shares of Veritex from $21.00 to $23.00 in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Veritex presently has an average rating of “Hold” and an average price target of $28.38.
Veritex Stock Performance
VBTX opened at $21.62 on Friday. The stock’s 50 day simple moving average is $19.64 and its 200-day simple moving average is $20.69. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.17 billion, a PE ratio of 7.61 and a beta of 1.44. Veritex Holdings, Inc. has a 1 year low of $14.88 and a 1 year high of $33.94.
Veritex Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.70%. Veritex’s payout ratio is currently 28.17%.
Insider Buying and Selling
In related news, Director Gregory B. Morrison purchased 1,252 shares of the stock in a transaction on Wednesday, June 14th. The shares were purchased at an average cost of $19.98 per share, for a total transaction of $25,014.96. Following the completion of the transaction, the director now directly owns 26,554 shares of the company’s stock, valued at approximately $530,548.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by corporate insiders.
Veritex Company 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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.
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