Veritex Holdings Inc (NASDAQ:VBTX) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,493,585 shares, a decline of 36.4% from the December 31st total of 2,347,836 shares. Based on an average trading volume of 382,182 shares, the short-interest ratio is presently 3.9 days. Currently, 7.8% of the shares of the stock are sold short.
Shares of VBTX opened at $26.46 on Friday. The stock has a market capitalization of $642.34 million, a P/E ratio of 14.38, a P/E/G ratio of 1.64 and a beta of 1.60. Veritex has a 1-year low of $20.34 and a 1-year high of $33.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.01 and a current ratio of 1.00.
Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The firm had revenue of $32.31 million for the quarter, compared to analysts’ expectations of $30.73 million. Veritex had a return on equity of 7.86% and a net margin of 25.19%. As a group, equities analysts forecast that Veritex will post 2.22 EPS for the current year.
A number of equities analysts recently weighed in on the company. BidaskClub raised Veritex from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine cut Veritex from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research raised Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th. Stephens set a $31.00 price target on Veritex and gave the stock a “buy” rating in a research note on Tuesday. Finally, Raymond James dropped their price target on Veritex from $33.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Veritex presently has a consensus rating of “Buy” and a consensus target price of $30.50.
In related news, CEO C Malcolm Holland III sold 3,750 shares of Veritex stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $25.62, for a total transaction of $96,075.00. Following the transaction, the chief executive officer now directly owns 93,046 shares of the company’s stock, valued at $2,383,838.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Veritex by 20.2% during the second quarter. Bank of New York Mellon Corp now owns 92,866 shares of the financial services provider’s stock valued at $2,885,000 after acquiring an additional 15,605 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Veritex by 24.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 102,438 shares of the financial services provider’s stock valued at $3,183,000 after acquiring an additional 19,825 shares in the last quarter. BlackRock Inc. increased its position in shares of Veritex by 63.9% during the second quarter. BlackRock Inc. now owns 1,496,308 shares of the financial services provider’s stock valued at $46,491,000 after acquiring an additional 583,267 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Veritex by 36.5% during the second quarter. Dimensional Fund Advisors LP now owns 873,514 shares of the financial services provider’s stock valued at $27,140,000 after acquiring an additional 233,746 shares in the last quarter. Finally, Voya Investment Management LLC bought a new stake in shares of Veritex during the second quarter valued at approximately $246,000. 77.55% of the stock is currently owned by hedge funds and other institutional investors.
Veritex Company 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.
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