SummerHaven Investment Management LLC Grows Stock Holdings in Veritex Holdings, Inc. $VBTX

SummerHaven Investment Management LLC lifted its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,699 shares of the financial services provider’s stock after purchasing an additional 643 shares during the period. SummerHaven Investment Management LLC owned about 0.07% of Veritex worth $984,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in Veritex in the first quarter valued at $29,215,000. MetLife Investment Management LLC lifted its position in Veritex by 1,813.1% in the first quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider’s stock valued at $15,353,000 after acquiring an additional 582,733 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Veritex in the first quarter valued at $6,621,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Veritex in the fourth quarter valued at $6,975,000. Finally, Millennium Management LLC lifted its position in Veritex by 22.7% in the first quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider’s stock valued at $29,598,000 after acquiring an additional 218,962 shares during the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veritex

In other Veritex news, Director Arcilia Acosta sold 7,279 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $32.14, for a total value of $233,947.06. Following the sale, the director owned 54,933 shares of the company’s stock, valued at $1,765,546.62. This represents a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cara Mcdaniel sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total transaction of $325,300.00. Following the completion of the sale, the insider directly owned 17,372 shares in the company, valued at $565,111.16. This trade represents a 36.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 320,699 shares of company stock valued at $10,361,627 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

VBTX has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their price target on shares of Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. William Blair raised shares of Veritex to an “outperform” rating in a research report on Monday, July 14th. The Goldman Sachs Group initiated coverage on shares of Veritex in a research report on Monday, July 14th. They issued a “buy” rating for the company. Piper Sandler reissued a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Finally, DA Davidson boosted their price target on shares of Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Veritex presently has an average rating of “Moderate Buy” and an average price target of $33.25.

Veritex Trading Up 0.5%

Shares of Veritex stock opened at $33.78 on Monday. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The company’s 50-day simple moving average is $32.99 and its 200-day simple moving average is $27.60. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 16.09 and a beta of 1.08.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The business had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 16th. Veritex’s dividend payout ratio is presently 41.90%.

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.