Basswood Capital Management L.L.C. Invests $11.14 Million in Veritex Holdings, Inc. (NASDAQ:VBTX)

Basswood Capital Management L.L.C. acquired a new stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 423,227 shares of the financial services provider’s stock, valued at approximately $11,139,000. Basswood Capital Management L.L.C. owned approximately 0.78% of Veritex as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in shares of Veritex during the 2nd quarter worth about $25,000. CWM LLC lifted its position in Veritex by 1,302.9% in the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 3,101 shares during the period. Point72 DIFC Ltd increased its position in shares of 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 purchasing an additional 816 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Veritex by 295.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after buying an additional 5,559 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Veritex in the second quarter valued at $208,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Insider Transactions at Veritex

In other Veritex news, Director John Sughrue sold 16,820 shares of the 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 completion of the sale, the director now owns 62,643 shares in the company, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 224,132 shares in the company, 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 insiders.

Veritex Stock Down 0.2 %

VBTX stock opened at $30.41 on Monday. The company’s 50 day simple moving average is $27.69 and its 200-day simple moving average is $24.24. Veritex Holdings, Inc. has a 52-week low of $18.08 and a 52-week high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.49 and a beta of 1.36.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The company 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 company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.63%. Veritex’s dividend payout ratio is 51.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Tuesday, September 17th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, DA Davidson increased their price objective on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Veritex currently has an average rating of “Moderate Buy” and a consensus target price 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.