KLP Kapitalforvaltning AS Purchases 2,800 Shares of Veritex Holdings, Inc. $VBTX

KLP Kapitalforvaltning AS boosted its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 28.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,612 shares of the financial services provider’s stock after purchasing an additional 2,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Veritex were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Veritex in the first quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of Veritex by 28.9% during the second quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,011 shares in the last quarter. Strs Ohio bought a new stake in shares of Veritex during the first quarter valued at approximately $135,000. Quarry LP raised its stake in shares of Veritex by 327.6% during the first quarter. Quarry LP now owns 6,534 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 5,006 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Veritex by 12.6% during the first quarter. EP Wealth Advisors LLC now owns 9,568 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 1,074 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VBTX. William Blair raised shares of Veritex to an “outperform” rating in a research note on Monday, July 14th. DA Davidson lifted their price target on shares of Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Veritex in a research note on Wednesday, October 8th. The Goldman Sachs Group began coverage on shares of Veritex in a research note on Monday, July 14th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Veritex Stock Performance

Shares of VBTX stock opened at $30.26 on Monday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 14.41 and a beta of 1.06. The company’s 50 day moving average is $33.09 and its 200 day moving average is $28.39. 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 Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.96.

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

Veritex Dividend Announcement

The firm 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 of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.9%. Veritex’s dividend payout ratio is presently 41.90%.

Insider Buying and Selling at Veritex

In other news, EVP Angela Harper sold 47,716 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total transaction of $1,544,566.92. Following the transaction, the executive vice president directly owned 59,683 shares of the company’s stock, valued at approximately $1,931,938.71. This represents a 44.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cara Mcdaniel sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $32.53, for a total value of $325,300.00. Following the transaction, the insider directly owned 17,372 shares in the company, valued at approximately $565,111.16. The trade was a 36.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,699 shares of company stock valued at $10,361,627. Corporate insiders own 4.30% of the company’s stock.

Veritex 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.