Alliancebernstein L.P. lessened its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 34.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,158 shares of the financial services provider’s stock after selling 40,343 shares during the quarter. Alliancebernstein L.P. owned about 0.50% of Veritex Holdings worth $2,005,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of Veritex Holdings by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 12,596 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 491 shares during the period. Kennedy Capital Management Inc. lifted its stake in shares of Veritex Holdings by 76.6% in the 2nd quarter. Kennedy Capital Management Inc. now owns 331,285 shares of the financial services provider’s stock worth $8,723,000 after purchasing an additional 143,718 shares during the period. Principal Financial Group Inc. bought a new position in shares of Veritex Holdings in the 2nd quarter worth approximately $259,000. Bank of New York Mellon Corp lifted its stake in shares of Veritex Holdings by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,299 shares of the financial services provider’s stock worth $1,798,000 after purchasing an additional 8,771 shares during the period. Finally, Northpointe Capital LLC lifted its stake in shares of Veritex Holdings by 19.6% in the 2nd quarter. Northpointe Capital LLC now owns 349,386 shares of the financial services provider’s stock worth $9,199,000 after purchasing an additional 57,321 shares during the period. 52.30% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have recently weighed in on VBTX shares. Stephens set a $32.00 price objective on shares of Veritex Holdings and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies reiterated a “hold” rating and issued a $29.00 price objective on shares of Veritex Holdings in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Veritex Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of Veritex Holdings from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.83.
In related news, insider Ned N. Fleming III sold 55,134 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $26.16, for a total value of $1,442,305.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Clayton Riebe purchased 1,950 shares of Veritex Holdings stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $25.19 per share, with a total value of $49,120.50. Following the acquisition, the insider now directly owns 4,686 shares of the company’s stock, valued at approximately $118,040.34. The disclosure for this purchase can be found here. Insiders sold 419,800 shares of company stock valued at $11,059,556 in the last ninety days. Company insiders own 6.90% of the company’s stock.
Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) opened at 26.15 on Friday. The company has a 50 day moving average price of $26.32 and a 200 day moving average price of $26.58. The company has a market capitalization of $397.85 million, a P/E ratio of 26.55 and a beta of 1.66. Veritex Holdings, Inc. has a 12-month low of $17.45 and a 12-month high of $29.43.
Veritex Holdings (NASDAQ:VBTX) last issued its earnings results on Monday, October 23rd. The financial services provider reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). Veritex Holdings had a return on equity of 6.41% and a net margin of 21.85%. The company had revenue of $21.11 million during the quarter, compared to analysts’ expectations of $20.80 million. Equities analysts anticipate that Veritex Holdings, Inc. will post $1.01 EPS for the current year.
Veritex Holdings Profile
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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