USA Financial Formulas Makes New $32,000 Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

USA Financial Formulas acquired a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,168 shares of the financial services provider’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Veritex by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after purchasing an additional 18,185 shares in the last quarter. Barclays PLC lifted its holdings in Veritex by 63.8% during the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock worth $3,095,000 after buying an additional 45,787 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after buying an additional 431 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Veritex by 24.1% during the 3rd 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 in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Veritex by 4.6% in the 3rd quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock valued at $1,279,000 after acquiring an additional 2,115 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Veritex

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

Veritex Price Performance

VBTX stock opened at $26.35 on Friday. The business has a 50 day simple moving average of $28.44 and a 200-day simple moving average of $25.99. The company has a market capitalization of $1.44 billion, a P/E ratio of 16.89 and a beta of 1.38. Veritex Holdings, Inc. has a twelve month low of $18.08 and a twelve month high of $31.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

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

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, November 8th. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

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.