Veritex Holdings Inc (NASDAQ:VBTX) Director Sells $374,850.00 in Stock

Veritex Holdings Inc (NASDAQ:VBTX) Director Blake Bozman sold 15,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.99, for a total value of $374,850.00. Following the sale, the director now directly owns 75,425 shares of the company’s stock, valued at approximately $1,884,870.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of VBTX traded up $0.31 during midday trading on Tuesday, reaching $25.31. 24,504 shares of the stock were exchanged, compared to its average volume of 319,595. Veritex Holdings Inc has a twelve month low of $20.34 and a twelve month high of $28.53. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.30 billion, a P/E ratio of 13.77 and a beta of 1.56. The stock’s 50 day simple moving average is $24.46 and its 200 day simple moving average is $25.10.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). Veritex had a return on equity of 10.16% and a net margin of 20.33%. The firm had revenue of $79.30 million for the quarter, compared to analyst estimates of $79.90 million. As a group, analysts predict that Veritex Holdings Inc will post 2.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Wednesday, November 6th. Veritex’s dividend payout ratio is currently 27.17%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Veritex by 162.3% in the second quarter. Prudential Financial Inc. now owns 266,774 shares of the financial services provider’s stock worth $6,923,000 after purchasing an additional 165,066 shares during the period. Chicago Equity Partners LLC bought a new position in shares of Veritex in the second quarter worth $1,791,000. JPMorgan Chase & Co. increased its position in shares of Veritex by 42.7% in the second quarter. JPMorgan Chase & Co. now owns 246,171 shares of the financial services provider’s stock worth $6,319,000 after purchasing an additional 73,629 shares during the period. New York State Teachers Retirement System increased its position in shares of Veritex by 6.3% in the third quarter. New York State Teachers Retirement System now owns 20,174 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 1,200 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Veritex by 8.6% in the third quarter. Rhumbline Advisers now owns 155,233 shares of the financial services provider’s stock worth $3,767,000 after purchasing an additional 12,257 shares during the period. 79.24% of the stock is owned by institutional investors.

Several brokerages have issued reports on VBTX. Raymond James raised their price target on Veritex from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Zacks Investment Research raised Veritex from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. ValuEngine raised Veritex from a “strong sell” rating to a “sell” rating in a report on Thursday, October 31st. BidaskClub downgraded Veritex from a “sell” rating to a “strong sell” rating in a report on Friday, August 9th. Finally, Stephens set a $29.00 target price on Veritex and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.33.

About Veritex

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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