King Luther Capital Management Corp raised its holdings in shares of Veritex Holdings Inc (NASDAQ:VBTX) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,308 shares of the financial services provider’s stock after buying an additional 9,159 shares during the period. King Luther Capital Management Corp owned about 0.56% of Veritex worth $3,852,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of VBTX. Renaissance Technologies LLC boosted its holdings in Veritex by 26.3% in the third quarter. Renaissance Technologies LLC now owns 74,500 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 15,500 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Veritex by 204.8% in the third quarter. Citadel Advisors LLC now owns 100,515 shares of the financial services provider’s stock worth $2,841,000 after purchasing an additional 67,543 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Veritex by 9.5% in the third quarter. Allianz Asset Management GmbH now owns 155,923 shares of the financial services provider’s stock worth $4,406,000 after purchasing an additional 13,544 shares during the last quarter. Royce & Associates LP purchased a new stake in Veritex in the third quarter worth approximately $848,000. Finally, GSA Capital Partners LLP purchased a new stake in Veritex in the third quarter worth approximately $250,000. Institutional investors and hedge funds own 77.94% of the company’s stock.
Several brokerages have recently weighed in on VBTX. BidaskClub cut shares of Veritex from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Raymond James began coverage on shares of Veritex in a research note on Tuesday, October 2nd. They set an “outperform” rating and a $33.00 price target on the stock. Stephens set a $39.00 price target on shares of Veritex and gave the stock a “buy” rating in a research note on Monday, October 22nd. ValuEngine cut shares of Veritex from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Veritex from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Veritex has an average rating of “Hold” and an average price target of $34.00.
In other news, CEO C Malcolm Holland III sold 3,750 shares of Veritex stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $25.62, for a total transaction of $96,075.00. Following the transaction, the chief executive officer now owns 93,046 shares in the company, valued at approximately $2,383,838.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.70% of the company’s stock.
Shares of Veritex stock opened at $23.57 on Friday. The firm has a market cap of $559.16 million, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.55. Veritex Holdings Inc has a 1-year low of $20.99 and a 1-year high of $33.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.01.
Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.10). The business had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $30.50 million. Veritex had a return on equity of 6.83% and a net margin of 23.12%. As a group, equities analysts expect that Veritex Holdings Inc will post 1.65 EPS for the current fiscal year.
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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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