First Trust Advisors LP Grows Stake in Veritex Holdings Inc (VBTX)

First Trust Advisors LP lifted its stake in shares of Veritex Holdings Inc (NASDAQ:VBTX) by 110.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,719 shares of the financial services provider’s stock after acquiring an additional 37,585 shares during the quarter. First Trust Advisors LP owned 0.30% of Veritex worth $2,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VBTX. CIBC Private Wealth Group LLC bought a new stake in shares of Veritex during the 2nd quarter worth $109,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Veritex by 43.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,811 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 2,368 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Veritex during the 2nd quarter worth $246,000. MetLife Investment Advisors LLC boosted its stake in shares of Veritex by 54.0% during the 2nd quarter. MetLife Investment Advisors LLC now owns 11,061 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 3,878 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Veritex by 23.3% during the 2nd quarter. California Public Employees Retirement System now owns 15,777 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 2,977 shares in the last quarter. 76.11% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on VBTX. BidaskClub lowered Veritex from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Raymond James began coverage on Veritex in a research note on Tuesday, October 2nd. They set an “outperform” rating and a $33.00 price objective for the company. Zacks Investment Research lowered Veritex from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. ValuEngine lowered Veritex from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Finally, Stephens set a $39.00 price objective on Veritex and gave the stock a “buy” rating in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Veritex currently has a consensus rating of “Hold” and an average price target of $34.00.

In related news, CEO C Malcolm Holland III sold 3,750 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $30.60, for a total transaction of $114,750.00. Following the completion of the sale, the chief executive officer now directly owns 92,252 shares in the company, valued at $2,822,911.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

VBTX opened at $25.69 on Monday. The firm has a market capitalization of $622.39 million, a PE ratio of 27.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.53. Veritex Holdings Inc has a 12-month low of $20.99 and a 12-month high of $33.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.17.

Veritex (NASDAQ:VBTX) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.10). The business had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $30.50 million. Veritex had a net margin of 23.12% and a return on equity of 6.83%. Sell-side analysts anticipate that Veritex Holdings Inc will post 1.65 EPS for the current fiscal year.

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Veritex Company 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.

Further Reading: Why is the ex-dividend date different from the record date?

Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

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