Veritex Holdings, Inc. (NASDAQ:VBTX) Holdings Lowered by Lmcg Investments LLC

Lmcg Investments LLC cut its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 11.9% in the 4th quarter, HoldingsChannel reports. The fund owned 7,915 shares of the financial services provider’s stock after selling 1,073 shares during the period. Lmcg Investments LLC’s holdings in Veritex were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in VBTX. USA Financial Formulas bought a new position in Veritex during the 4th quarter valued at $32,000. GAMMA Investing LLC lifted its holdings in shares of Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after buying an additional 431 shares during the period. JPMorgan Chase & Co. grew its holdings in Veritex by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock worth $16,618,000 after acquiring an additional 122,809 shares during the period. Franklin Resources Inc. raised its position in Veritex by 1.0% in the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 701 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after acquiring an additional 18,185 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Insider Transactions at Veritex

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

Veritex Stock Up 1.7 %

Shares of NASDAQ:VBTX opened at $26.81 on Wednesday. The company has a market cap of $1.46 billion, a PE ratio of 17.19 and a beta of 1.38. The firm has a 50 day simple moving average of $28.36 and a 200 day simple moving average of $26.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. Veritex Holdings, Inc. has a 52 week low of $18.08 and a 52 week high of $31.62.

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

Analyst Upgrades and Downgrades

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

Veritex 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.