Banc Funds Co. LLC Purchases 2,000 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Banc Funds Co. LLC increased its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,000 shares of the financial services provider’s stock after buying an additional 2,000 shares during the quarter. Banc Funds Co. LLC owned 0.56% of Veritex worth $7,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VBTX. Meeder Asset Management Inc. purchased a new position in shares of Veritex during the second quarter worth approximately $25,000. CWM LLC grew its holdings in shares of Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 3,101 shares during the last quarter. Point72 DIFC Ltd lifted its stake in Veritex by 16.5% in the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 816 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Veritex by 295.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 5,559 shares during the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in Veritex during the third quarter valued at about $215,000. Institutional investors own 88.31% of the company’s stock.

Veritex Price Performance

Shares of VBTX stock opened at $30.41 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $1.66 billion, a P/E ratio of 19.49 and a beta of 1.36. The business’s 50 day moving average price is $27.69 and its 200-day moving average price is $24.24. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. During the same period in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Friday, November 8th. Veritex’s payout ratio is currently 51.28%.

Insider Buying and Selling at Veritex

In related news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. DA Davidson increased their price objective on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Veritex currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

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.