Rhumbline Advisers Cuts Position in Veritex Holdings, Inc. $VBTX

Rhumbline Advisers reduced its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,085 shares of the financial services provider’s stock after selling 6,539 shares during the period. Rhumbline Advisers owned 0.29% of Veritex worth $3,947,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VBTX. Deutsche Bank AG increased its stake in Veritex by 48.7% in the fourth quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider’s stock valued at $1,294,000 after purchasing an additional 15,596 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Veritex by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 992 shares during the last quarter. Millennium Management LLC increased its stake in Veritex by 220.5% in the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock valued at $26,247,000 after purchasing an additional 664,885 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Veritex by 57.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock valued at $33,675,000 after purchasing an additional 454,015 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Veritex by 44.3% in the fourth quarter. ProShare Advisors LLC now owns 15,865 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 4,871 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on VBTX shares. DA Davidson increased their price objective on Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, July 24th. William Blair raised Veritex to an “outperform” rating in a report on Monday, July 14th. The Goldman Sachs Group started coverage on Veritex in a report on Monday, July 14th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods increased their price objective on Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $34.00 price objective (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Veritex presently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Veritex Price Performance

Shares of NASDAQ VBTX opened at $34.40 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a fifty day moving average price of $32.20 and a 200 day moving average price of $26.95. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $34.96. The company has a market cap of $1.88 billion, a PE ratio of 16.38 and a beta of 1.08.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $110.91 million. During the same period last year, the company earned $0.52 earnings per share. Sell-side analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Veritex’s dividend payout ratio (DPR) is 41.90%.

Insider Buying and Selling

In other Veritex news, insider Cara Mcdaniel sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $32.53, for a total value of $325,300.00. Following the completion of the sale, the insider owned 17,372 shares of the company’s stock, valued at approximately $565,111.16. This trade represents a 36.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Sughrue sold 5,669 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $32.00, for a total value of $181,408.00. Following the completion of the sale, the director directly owned 50,652 shares of the company’s stock, valued at approximately $1,620,864. This trade represents a 10.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,699 shares of company stock valued at $10,361,627 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

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, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.