Voya Investment Management LLC bought a new position in shares of Veritex Holdings Inc (NASDAQ:VBTX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,933 shares of the financial services provider’s stock, valued at approximately $246,000.
A number of other hedge funds have also bought and sold shares of VBTX. BlackRock Inc. lifted its stake in Veritex by 63.9% during the second quarter. BlackRock Inc. now owns 1,496,308 shares of the financial services provider’s stock worth $46,491,000 after purchasing an additional 583,267 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Veritex by 36.5% in the second quarter. Dimensional Fund Advisors LP now owns 873,514 shares of the financial services provider’s stock valued at $27,140,000 after buying an additional 233,746 shares during the last quarter. Millennium Management LLC lifted its stake in Veritex by 83.4% in the first quarter. Millennium Management LLC now owns 467,003 shares of the financial services provider’s stock valued at $12,922,000 after buying an additional 212,360 shares during the last quarter. Boston Advisors LLC purchased a new stake in Veritex in the second quarter valued at approximately $3,607,000. Finally, Broadview Advisors LLC purchased a new stake in Veritex in the second quarter valued at approximately $3,537,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.
In other news, CEO C Malcolm Holland III sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $30.60, for a total transaction of $114,750.00. Following the completion of the sale, the chief executive officer now owns 92,252 shares in the company, valued at $2,822,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is currently owned by insiders.
Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.43. Veritex had a return on equity of 6.53% and a net margin of 23.09%. The company had revenue of $30.22 million during the quarter, compared to analysts’ expectations of $29.60 million. As a group, sell-side analysts anticipate that Veritex Holdings Inc will post 1.78 earnings per share for the current year.
A number of brokerages have weighed in on VBTX. BidaskClub cut Veritex from a “sell” rating to a “strong sell” rating in a research note on Friday. Raymond James began coverage on Veritex in a research note on Tuesday, October 2nd. They issued an “outperform” rating and a $33.00 price objective for the company. Zacks Investment Research cut Veritex from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $37.00 price objective on shares of Veritex in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.75.
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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