Veritex Holdings, Inc. $VBTX Position Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,295 shares of the financial services provider’s stock after acquiring an additional 2,087 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Veritex worth $842,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Veritex during the first quarter worth $29,215,000. MetLife Investment Management LLC raised its holdings in shares of Veritex by 1,813.1% during the first quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider’s stock worth $15,353,000 after purchasing an additional 582,733 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Veritex during the first quarter worth $6,621,000. Millennium Management LLC raised its holdings in shares of Veritex by 22.7% during the first quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider’s stock worth $29,598,000 after purchasing an additional 218,962 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Veritex by 361.4% during the first quarter. Deutsche Bank AG now owns 219,807 shares of the financial services provider’s stock worth $5,489,000 after purchasing an additional 172,171 shares during the period. 88.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on VBTX. Keefe, Bruyette & Woods increased their target price on shares of Veritex from $30.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Veritex in a report on Monday, July 14th. They set a “buy” rating on the stock. Piper Sandler reissued a “neutral” rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. DA Davidson increased their target price on shares of Veritex from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, William Blair raised shares of Veritex to an “outperform” rating in a report on Monday, July 14th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Veritex Stock Down 2.7%

VBTX stock opened at $32.58 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $34.96. The firm’s 50-day simple moving average is $33.10 and its 200 day simple moving average is $27.97. The stock has a market cap of $1.78 billion, a PE ratio of 15.51 and a beta of 1.06.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The business had revenue of $109.83 million for the quarter, compared to analysts’ expectations of $110.91 million. During the same quarter last year, the company earned $0.52 EPS. As a group, sell-side analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current 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 paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.7%. Veritex’s dividend payout ratio (DPR) is presently 41.90%.

Insider Activity

In other Veritex news, insider Cara Mcdaniel sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total transaction of $325,300.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Lavonda Renfro sold 53,411 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the transaction, the chief operating officer directly owned 60,209 shares in the company, valued at approximately $1,949,567.42. The trade was a 47.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,699 shares of company stock worth $10,361,627 in the last 90 days. 4.30% of the stock is currently owned by corporate 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.