HighTower Advisors LLC Has $13.42 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

HighTower Advisors LLC trimmed its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,839 shares of the financial services provider’s stock after selling 22,696 shares during the quarter. HighTower Advisors LLC’s holdings in Veritex were worth $13,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Veritex in the second quarter valued at approximately $25,000. CWM LLC increased its stake in shares of Veritex by 1,302.9% in the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 3,101 shares in the last quarter. Point72 DIFC Ltd increased its stake in shares of Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 816 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Veritex by 295.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 5,559 shares during the period. Finally, Mutual of America Capital Management LLC bought a new position in Veritex during the third quarter worth $215,000. Institutional investors own 88.31% of the company’s stock.

Insiders Place Their Bets

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. This represents a 5.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Sughrue sold 16,820 shares of Veritex 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 in the company, valued at $1,894,950.75. The trade was 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 currently owned by insiders.

Analyst Upgrades and Downgrades

VBTX has been the topic of several research reports. DA Davidson upped their price objective on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Piper Sandler upped their price target on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Tuesday, September 17th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Veritex Stock Performance

Shares of VBTX opened at $30.45 on Friday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.52 and a beta of 1.38. Veritex Holdings, Inc. has a 52 week low of $18.08 and a 52 week high of $31.62. The stock has a 50 day moving average price of $28.13 and a two-hundred day moving average price of $24.53. 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 (NASDAQ:VBTX) last announced its quarterly earnings results 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. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Veritex’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Veritex Holdings, Inc. will post 2.17 earnings per share for the current fiscal year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend 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.