10,244 Shares in Veritex Holdings, Inc. $VBTX Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC bought a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,244 shares of the financial services provider’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Veritex by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider’s stock valued at $98,172,000 after acquiring an additional 56,676 shares during the last quarter. Victory Capital Management Inc. grew its position in Veritex by 3.0% in the first quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider’s stock valued at $50,960,000 after acquiring an additional 59,056 shares during the last quarter. Millennium Management LLC grew its position in Veritex by 22.7% in the first quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider’s stock valued at $29,598,000 after acquiring an additional 218,962 shares during the last quarter. Nuveen LLC bought a new position in Veritex in the first quarter valued at about $29,215,000. Finally, Charles Schwab Investment Management Inc. grew its position in Veritex by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 769,057 shares of the financial services provider’s stock valued at $19,203,000 after acquiring an additional 27,783 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

Insider Transactions at Veritex

In other Veritex news, Director Arcilia Acosta sold 7,279 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total value of $233,947.06. Following the transaction, the director directly owned 54,933 shares of the company’s stock, valued at approximately $1,765,546.62. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO C Malcolm Holland III sold 125,762 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 directly owned 294,508 shares in the company, valued at approximately $9,500,828.08. This trade represents a 29.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,699 shares of company stock valued at $10,361,627. 4.30% of the stock is owned by insiders.

Veritex Stock Performance

Shares of VBTX stock opened at $31.79 on Thursday. The business’s 50 day simple moving average is $33.10 and its 200 day simple moving average is $28.03. Veritex Holdings, Inc. has a one year low of $20.37 and a one year high of $34.96. The stock has a market capitalization of $1.74 billion, a PE ratio of 15.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96.

Veritex (NASDAQ:VBTX) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, beating 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 analysts’ expectations of $110.91 million. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.8%. Veritex’s payout ratio is 41.90%.

Wall Street Analysts Forecast Growth

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

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.