Argent Capital Management LLC cut its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,580 shares of the financial services provider’s stock after selling 725 shares during the period. Argent Capital Management LLC’s holdings in Veritex were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Veritex by 4.1% during the fourth quarter. BlackRock Inc. now owns 7,353,352 shares of the financial services provider’s stock valued at $188,688,000 after buying an additional 290,357 shares during the period. Brown Advisory Inc. grew its holdings in Veritex by 36.2% during the 4th quarter. Brown Advisory Inc. now owns 1,667,721 shares of the financial services provider’s stock worth $42,794,000 after acquiring an additional 443,633 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Veritex by 10.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 866,821 shares of the financial services provider’s stock valued at $22,242,000 after purchasing an additional 81,682 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Veritex by 36.4% in the 4th quarter. Wells Fargo & Company MN now owns 674,277 shares of the financial services provider’s stock valued at $17,302,000 after purchasing an additional 179,788 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Veritex in the 4th quarter worth approximately $16,893,000. Institutional investors and hedge funds own 83.12% of the company’s stock.
VBTX opened at $36.06 on Friday. The company has a 50-day moving average of $34.58. Veritex Holdings, Inc. has a 1 year low of $15.19 and a 1 year high of $36.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 17.68 and a beta of 1.76.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.89%. Veritex’s dividend payout ratio (DPR) is 43.59%.
In other Veritex news, Director Arcilia Acosta purchased 10,000 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were acquired at an average price of $32.79 per share, for a total transaction of $327,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $327,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Don Ellis sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $34.63, for a total transaction of $865,750.00. Following the transaction, the director now owns 173,447 shares in the company, valued at approximately $6,006,469.61. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by insiders.
Separately, Raymond James boosted their price objective on shares of Veritex from $41.00 to $42.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 4th.
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, mortgage warehouse, commercial real estate, construction and land, 1-4 family residential, paycheck protection program, farmland and agricultural, multi-family residential, and consumer loans; and purchased receivables financing.
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