King Luther Capital Management Corp Has $3.85 Million Holdings in Veritex Holdings Inc (VBTX)

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.

WARNING: This story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.americanbankingnews.com/2018/12/08/king-luther-capital-management-corp-has-3-85-million-holdings-in-veritex-holdings-inc-vbtx.html.

Veritex 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.

Featured Story: What is Cost of Capital?

Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

Receive News & Ratings for Veritex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply