Ned N. Fleming III Sells 66,997 Shares of Veritex Holdings, Inc. (VBTX) Stock
Veritex Holdings, Inc. (NASDAQ:VBTX) insider Ned N. Fleming III sold 66,997 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $26.90, for a total value of $1,802,219.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Veritex Holdings, Inc. (NASDAQ VBTX) traded down 0.40% during mid-day trading on Thursday, reaching $27.19. The company had a trading volume of 130,764 shares. Veritex Holdings, Inc. has a 52-week low of $17.12 and a 52-week high of $29.43. The stock has a market capitalization of $413.67 million, a price-to-earnings ratio of 27.60 and a beta of 1.66. The company’s 50 day moving average is $25.96 and its 200 day moving average is $26.67.
Veritex Holdings (NASDAQ:VBTX) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Veritex Holdings had a net margin of 22.61% and a return on equity of 6.09%. The company had revenue of $14.14 million during the quarter, compared to analysts’ expectations of $16.40 million. Equities analysts predict that Veritex Holdings, Inc. will post $1.06 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. bought a new position in Veritex Holdings in the 2nd quarter worth approximately $527,000. California State Teachers Retirement System raised its position in Veritex Holdings by 10.0% in the 2nd quarter. California State Teachers Retirement System now owns 25,317 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 2,300 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Veritex Holdings by 52.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,518 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 4,304 shares during the last quarter. State Street Corp raised its position in Veritex Holdings by 41.3% in the 2nd quarter. State Street Corp now owns 248,839 shares of the financial services provider’s stock worth $6,550,000 after purchasing an additional 72,729 shares during the last quarter. Finally, Jacobs Asset Management LLC raised its position in Veritex Holdings by 36.4% in the 2nd quarter. Jacobs Asset Management LLC now owns 306,989 shares of the financial services provider’s stock worth $8,083,000 after purchasing an additional 81,989 shares during the last quarter. Hedge funds and other institutional investors own 52.17% of the company’s stock.
VBTX has been the topic of a number of research reports. Stephens set a $32.00 price target on Veritex Holdings and gave the stock a “buy” rating in a research report on Tuesday, August 8th. BidaskClub cut Veritex Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research cut Veritex Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $29.00 target price on shares of Veritex Holdings in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $31.83.
About Veritex Holdings
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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