Cornercap Investment Counsel Inc. Cuts Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Cornercap Investment Counsel Inc. lowered its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 19.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,713 shares of the financial services provider’s stock after selling 5,143 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Veritex were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sippican Capital Advisors increased its stake in shares of Veritex by 0.4% during the third quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock worth $2,612,000 after purchasing an additional 400 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Veritex by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 500 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Veritex by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock worth $974,000 after acquiring an additional 650 shares during the last quarter. ProShare Advisors LLC boosted its position in Veritex by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 728 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its position in Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Stock Performance

NASDAQ:VBTX opened at $29.27 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 19.02 and a beta of 1.36. The company’s 50-day moving average is $26.58 and its two-hundred day moving average is $23.45. Veritex Holdings, Inc. has a 1-year low of $18.08 and a 1-year high of $30.86.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same period in the prior year, the business posted $0.60 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts forecast that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

VBTX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Stephens boosted their price target on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. DA Davidson boosted their price target on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Insider Buying and Selling

In related news, Director John Sughrue sold 16,820 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.

About Veritex

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.