Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX – Get Rating) by 7.8% in the third quarter, Holdings Channel.com reports. The fund owned 284,664 shares of the financial services provider’s stock after selling 23,952 shares during the period. Royal Bank of Canada’s holdings in Veritex were worth $7,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of VBTX. Price T Rowe Associates Inc. MD lifted its holdings in Veritex by 32.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,641,794 shares of the financial services provider’s stock valued at $77,299,000 after acquiring an additional 645,296 shares during the last quarter. Millennium Management LLC lifted its holdings in Veritex by 750.4% in the 2nd quarter. Millennium Management LLC now owns 698,771 shares of the financial services provider’s stock valued at $20,446,000 after acquiring an additional 616,600 shares during the last quarter. State Street Corp lifted its holdings in Veritex by 19.9% in the 1st quarter. State Street Corp now owns 2,585,250 shares of the financial services provider’s stock valued at $98,679,000 after acquiring an additional 428,226 shares during the last quarter. RMB Capital Management LLC acquired a new stake in Veritex in the 2nd quarter valued at about $10,105,000. Finally, BlackRock Inc. lifted its holdings in Veritex by 4.7% in the 1st quarter. BlackRock Inc. now owns 7,377,556 shares of the financial services provider’s stock valued at $281,602,000 after acquiring an additional 328,369 shares during the last quarter. 85.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John Sughrue acquired 3,652 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were purchased at an average price of $27.36 per share, for a total transaction of $99,918.72. Following the completion of the acquisition, the director now owns 76,822 shares of the company’s stock, valued at approximately $2,101,849.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VBTX has been the subject of a number of analyst reports. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler reduced their price objective on shares of Veritex from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 26th. Raymond James lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 5th. Stephens reduced their price objective on shares of Veritex from $33.00 to $31.00 in a research note on Thursday, January 26th. Finally, Hovde Group reduced their price objective on shares of Veritex to $39.00 in a research note on Wednesday, December 14th.

Veritex Price Performance

Shares of VBTX opened at $22.26 on Friday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.21 and a beta of 1.47. Veritex Holdings, Inc. has a fifty-two week low of $21.58 and a fifty-two week high of $41.75. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50-day moving average is $27.63 and its 200-day moving average is $28.92.

Veritex (NASDAQ:VBTX – Get Rating) last issued its earnings results on Tuesday, January 24th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The business had revenue of $120.40 million during the quarter, compared to analyst estimates of $121.22 million. Veritex had a net margin of 29.13% and a return on equity of 10.31%. Veritex’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Equities research analysts expect that Veritex Holdings, Inc. will post 3.2 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were issued a $0.20 dividend. The ex-dividend date was Thursday, February 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.59%. Veritex’s dividend payout ratio is 29.52%.

Veritex Profile

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Veritex Holdings, Inc engages in the provision of commercial banking products and services to small to medium-sized businesses and professionals. It offers personal and business banking products, mortgages, and treasury services. The company was founded by Charles Malcolm Holland III in June 2009 and is headquartered in Dallas, TX.