Exchange Traded Concepts LLC Sells 1,204 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Exchange Traded Concepts LLC reduced its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 10.3% during the fourth quarter, Holdings Channel reports. The fund owned 10,432 shares of the financial services provider’s stock after selling 1,204 shares during the period. Exchange Traded Concepts LLC’s holdings in Veritex were worth $283,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VBTX. Renaissance Technologies LLC purchased a new stake in Veritex during the second quarter valued at about $730,000. Marshall Wace LLP bought a new stake in shares of Veritex in the 2nd quarter valued at about $2,531,000. Millennium Management LLC boosted its holdings in Veritex by 56.2% during the 2nd quarter. Millennium Management LLC now owns 292,499 shares of the financial services provider’s stock valued at $6,169,000 after acquiring an additional 105,261 shares during the period. The Manufacturers Life Insurance Company grew its position in Veritex by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,684 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 1,605 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Veritex in the 2nd quarter worth approximately $234,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Price Performance

NASDAQ VBTX opened at $26.80 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.74 and a beta of 1.38. Veritex Holdings, Inc. has a 1-year low of $18.08 and a 1-year high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The business’s fifty day moving average price is $27.91 and its 200-day moving average price is $26.34.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.63%. On average, equities analysts predict that Veritex Holdings, Inc. will post 2.24 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.99%. Veritex’s dividend payout ratio (DPR) is presently 41.03%.

Insider Activity

In other Veritex news, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the sale, the director now owns 62,643 shares in the company, valued at $1,894,950.75. The trade was a 21.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. DA Davidson dropped their price objective on Veritex from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Stephens decreased their price objective on shares of Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Raymond James reduced their price target on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.50.

Veritex Company 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.