Confluence Investment Management LLC Sells 1,218 Shares of Veritex Holdings Inc (NASDAQ:VBTX)

Confluence Investment Management LLC decreased its holdings in Veritex Holdings Inc (NASDAQ:VBTX) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 190,610 shares of the financial services provider’s stock after selling 1,218 shares during the quarter. Confluence Investment Management LLC’s holdings in Veritex were worth $4,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Phocas Financial Corp. bought a new position in shares of Veritex in the 2nd quarter valued at $51,000. Oppenheimer Asset Management Inc. increased its stake in shares of Veritex by 39.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,316 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,220 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Veritex by 226.6% during the 2nd quarter. Bank of Montreal Can now owns 6,300 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 4,371 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Veritex by 5.6% during the 2nd quarter. Royal Bank of Canada now owns 9,091 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 482 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Veritex during the 2nd quarter valued at $247,000. Institutional investors own 78.09% of the company’s stock.

In other Veritex news, CEO C Malcolm Holland III sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $25.88, for a total transaction of $64,700.00. Following the completion of the sale, the chief executive officer now directly owns 101,777 shares of the company’s stock, valued at approximately $2,633,988.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angela Harper sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $25.90, for a total value of $46,620.00. The disclosure for this sale can be found here. Insiders sold a total of 11,700 shares of company stock valued at $299,280 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on the company. BidaskClub downgraded Veritex from a “sell” rating to a “strong sell” rating in a report on Friday, August 9th. ValuEngine raised Veritex from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Zacks Investment Research raised Veritex from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Stephens set a $29.00 price objective on Veritex and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Raymond James cut their price objective on Veritex from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $28.67.

Shares of NASDAQ:VBTX opened at $24.25 on Thursday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 13.18 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day moving average is $24.22 and its 200-day moving average is $25.16. Veritex Holdings Inc has a 1 year low of $20.34 and a 1 year high of $28.53.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The business had revenue of $77.48 million during the quarter, compared to analyst estimates of $82.50 million. Veritex had a net margin of 18.42% and a return on equity of 9.83%. Analysts anticipate that Veritex Holdings Inc will post 2.33 EPS for the current year.

Veritex Profile

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

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Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

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