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

Lmcg Investments LLC reduced its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other large investors also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in Veritex during the 4th quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake 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 worth $91,000 after buying an additional 431 shares during the last quarter. Systematic Financial Management LP acquired a new stake in Veritex in the third quarter valued at $98,000. Point72 DIFC Ltd boosted its stake in Veritex by 16.5% during 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 during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Veritex by 319.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,885 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 3,720 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VBTX shares. DA Davidson upped their target price on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” 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. Piper Sandler lifted their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Veritex currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Veritex Stock Performance

Shares of NASDAQ VBTX opened at $26.81 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $28.36 and its two-hundred day moving average price is $26.10. Veritex Holdings, Inc. has a 52-week low of $18.08 and a 52-week high of $31.62. The stock has a market capitalization of $1.46 billion, a P/E ratio of 17.19 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 (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, sell-side analysts forecast that Veritex Holdings, Inc. will post 2.17 earnings per share for the current 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.