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

True North Advisors LLC purchased a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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. Dimensional Fund Advisors LP increased its position in Veritex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares during the period. Renaissance Technologies LLC acquired a new position in Veritex during the second quarter worth $730,000. Intech Investment Management LLC purchased a new position in Veritex in the second quarter worth $458,000. Public Employees Retirement Association of Colorado acquired a new stake in Veritex in the second quarter valued at $208,000. Finally, Sei Investments Co. grew its stake in shares of Veritex by 16.8% during the 2nd quarter. Sei Investments Co. now owns 232,036 shares of the financial services provider’s stock worth $4,894,000 after purchasing an additional 33,339 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Down 1.4 %

VBTX stock opened at $26.43 on Thursday. The company has a 50 day moving average price of $28.29 and a two-hundred day moving average price of $26.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $1.44 billion, a P/E ratio of 16.94 and a beta of 1.38. Veritex Holdings, Inc. has a one year low of $18.08 and a one year 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, beating 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 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 previous year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Insider Buying and Selling at Veritex

In other news, CEO C Malcolm Holland III sold 12,777 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 in the company, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their position. 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 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 transaction 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 company insiders.

Analyst Ratings Changes

VBTX has been the topic of a number of research analyst reports. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, DA Davidson boosted their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three 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’s stock. Based on data from MarketBeat, Veritex presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

About Veritex

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.