Millennium Management LLC Boosts Holdings in Veritex Holdings Inc (NASDAQ:VBTX)

Share on StockTwits

Millennium Management LLC raised its position in Veritex Holdings Inc (NASDAQ:VBTX) by 527.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,007,168 shares of the financial services provider’s stock after buying an additional 846,632 shares during the quarter. Millennium Management LLC owned about 1.94% of Veritex worth $24,438,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Phocas Financial Corp. purchased a new position in shares of Veritex during the 2nd quarter worth approximately $5,063,000. Usca Ria LLC acquired a new stake in Veritex in the third quarter valued at $77,000. Quest Capital Management Inc. ADV purchased a new stake in shares of Veritex during the 3rd quarter worth $93,000. Oppenheimer Asset Management Inc. grew its stake in shares of Veritex by 39.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,316 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 1,220 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Veritex by 226.6% during the 2nd quarter. Bank of Montreal Can now owns 6,300 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 4,371 shares during the period. 78.98% of the stock is currently owned by institutional investors.

In related news, Director Manuel J. Mehos sold 7,400 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $25.00, for a total value of $185,000.00. Following the sale, the director now owns 434,912 shares of the company’s stock, valued at approximately $10,872,800. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Blake Bozman sold 15,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $24.99, for a total value of $374,850.00. Following the transaction, the director now directly owns 75,425 shares of the company’s stock, valued at approximately $1,884,870.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $803,000. 3.92% of the stock is currently owned by company insiders.

Several analysts recently commented on VBTX shares. Stephens set a $29.00 price objective on shares of Veritex and gave the company a “buy” rating in a research note on Tuesday, September 24th. Raymond James upped their target price on shares of Veritex from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BidaskClub cut shares of Veritex from a “sell” rating to a “strong sell” rating in a report on Friday, August 9th. Zacks Investment Research upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, ValuEngine raised Veritex from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Veritex presently has a consensus rating of “Hold” and a consensus price target of $28.33.

Veritex stock opened at $25.77 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.01 and a beta of 1.54. Veritex Holdings Inc has a fifty-two week low of $20.34 and a fifty-two week high of $28.53. The stock’s fifty day moving average is $25.06 and its two-hundred day moving average is $25.00.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The firm had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $79.90 million. Veritex had a net margin of 20.33% and a return on equity of 10.16%. As a group, sell-side analysts forecast that Veritex Holdings Inc will post 2.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.94%. Veritex’s payout ratio is 27.17%.

Veritex Profile

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.

Featured Story: How prevalent are 12b-1 fees?

Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

Receive News & Ratings for Veritex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritex and related companies with MarketBeat.com's FREE daily email newsletter.