True North Advisors LLC Invests $443,000 in Veritex Holdings, Inc. (NASDAQ:VBTX)

True North Advisors LLC acquired a new stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,295 shares of the financial services provider’s stock, valued at approximately $443,000.

Other large investors have also recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. bought a new position in Veritex during the 3rd quarter worth $11,139,000. Assenagon Asset Management S.A. lifted its stake in Veritex by 67.6% during the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock valued at $21,248,000 after purchasing an additional 325,569 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Veritex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after buying an additional 299,562 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Veritex by 66.5% during the second quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider’s stock worth $8,944,000 after purchasing an additional 169,448 shares during the period. Finally, Stieven Capital Advisors L.P. lifted its stake in Veritex by 39.0% during the third quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider’s stock valued at $14,782,000 after buying an additional 157,571 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. DA Davidson boosted their price target on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.40.

Veritex Stock Performance

Shares of VBTX opened at $26.43 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 12 month low of $18.08 and a 12 month high of $31.62. The company’s fifty day moving average is $28.29 and its 200-day moving average is $26.14. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 16.94 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

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.