Peregrine Capital Management LLC Sells 6,674 Shares of Veritex Holdings, Inc. $VBTX

Peregrine Capital Management LLC decreased its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 199,421 shares of the financial services provider’s stock after selling 6,674 shares during the quarter. Peregrine Capital Management LLC’s holdings in Veritex were worth $5,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its holdings in shares of Veritex by 7.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 20,896 shares of the financial services provider’s stock worth $545,000 after buying an additional 1,529 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Veritex by 4.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 78,281 shares of the financial services provider’s stock worth $2,043,000 after buying an additional 3,271 shares during the last quarter. CWM LLC boosted its holdings in shares of Veritex by 16.8% in the 2nd quarter. CWM LLC now owns 16,139 shares of the financial services provider’s stock worth $421,000 after buying an additional 2,316 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Veritex by 28.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,612 shares of the financial services provider’s stock worth $329,000 after buying an additional 2,800 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of Veritex by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,699 shares of the financial services provider’s stock worth $984,000 after buying an additional 643 shares during the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Trading Up 1.0%

Shares of VBTX opened at $30.26 on Wednesday. The business’s 50-day moving average price is $32.85 and its 200-day moving average price is $28.81. Veritex Holdings, Inc. has a twelve month low of $20.37 and a twelve month high of $34.96. The stock has a market cap of $1.66 billion, a PE ratio of 14.41 and a beta of 1.06. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Thursday, March 3rd. The financial services provider reported $0.64 earnings per share for the quarter. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The firm had revenue of $64.03 million for the quarter. On average, equities analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Veritex’s dividend payout ratio is currently 41.90%.

Analysts Set New Price Targets

VBTX has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Veritex in a report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. William Blair raised shares of Veritex to an “outperform” rating in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group started coverage on shares of Veritex in a report on Monday, July 14th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Insider Buying and Selling

In other news, Director John Sughrue sold 5,669 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $32.00, for a total transaction of $181,408.00. Following the sale, the director directly owned 50,652 shares in the company, valued at $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Fallon William sold 7,220 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $30.68, for a total value of $221,509.60. Following the sale, the director owned 14,191 shares in the company, valued at approximately $435,379.88. This represents a 33.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,033 shares of company stock valued at $612,199. Corporate insiders own 4.30% of the company’s stock.

Veritex Company 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.