UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 13.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,890 shares of the financial services provider’s stock after selling 13,983 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Veritex were worth $2,392,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Veritex during the 2nd quarter valued at about $25,000. CWM LLC raised its stake in Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 3,101 shares during the period. Point72 DIFC Ltd boosted its holdings in Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 816 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Veritex in the 2nd quarter valued at approximately $208,000. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Veritex during the 3rd quarter worth approximately $215,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the company’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 sale, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction that occurred on Monday, October 28th. The stock was 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 owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Veritex Price Performance

VBTX stock opened at $29.64 on Friday. The business’s fifty day moving average price is $28.57 and its 200 day moving average price is $24.85. Veritex Holdings, Inc. has a 12-month low of $18.08 and a 12-month high of $31.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.61 billion, a PE ratio of 19.00 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Analyst Ratings Changes

VBTX has been the topic of a number of recent analyst reports. DA Davidson upped their price objective on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Piper Sandler upped their target price 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. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Veritex presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

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.