GAMMA Investing LLC Grows Position in Veritex Holdings, Inc. $VBTX

GAMMA Investing LLC raised its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 28.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,513 shares of the financial services provider’s stock after acquiring an additional 1,011 shares during the period. GAMMA Investing LLC’s holdings in Veritex were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Veritex during the 1st quarter valued at about $6,621,000. CWM LLC raised its holdings in shares of Veritex by 23.8% during the 1st quarter. CWM LLC now owns 13,823 shares of the financial services provider’s stock valued at $345,000 after buying an additional 2,653 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Veritex during the 1st quarter valued at about $1,085,000. Foundry Partners LLC purchased a new position in shares of Veritex during the 1st quarter valued at about $381,000. Finally, Wellington Management Group LLP raised its holdings in shares of Veritex by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 626,638 shares of the financial services provider’s stock valued at $15,647,000 after buying an additional 19,689 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Insider Transactions at Veritex

In other news, CEO C Malcolm Holland III sold 125,762 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $32.26, for a total value of $4,057,082.12. Following the completion of the transaction, the chief executive officer owned 294,508 shares in the company, valued at $9,500,828.08. The trade was a 29.92% decrease in their ownership of the stock. The transaction 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 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 transaction, the insider owned 17,372 shares of the company’s stock, valued at $565,111.16. This represents a 36.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,699 shares of company stock valued at $10,361,627. Insiders own 4.30% of the company’s stock.

Veritex Trading Down 0.4%

NASDAQ VBTX opened at $33.53 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $33.04 and its 200 day moving average is $27.71. Veritex Holdings, Inc. has a twelve month low of $20.37 and a twelve month high of $34.96. The firm has a market capitalization of $1.84 billion, a PE ratio of 15.97 and a beta of 1.08.

Veritex (NASDAQ:VBTX) last released its earnings results on Friday, July 18th. The financial services provider reported $0.56 EPS 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 business had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 16th. Veritex’s payout ratio is 41.90%.

Wall Street Analyst Weigh In

VBTX has been the topic of a number of research reports. Piper Sandler reissued a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Keefe, Bruyette & Woods raised 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. The Goldman Sachs Group initiated coverage on Veritex in a report on Monday, July 14th. They set a “buy” rating on the stock. William Blair raised Veritex to an “outperform” rating in a report on Monday, July 14th. Finally, DA Davidson lifted their price target on Veritex from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Veritex has an average rating of “Moderate Buy” and an average target price of $33.25.

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.