Russell Investments Group Ltd. Sells 56,137 Shares of Veritex Holdings Inc (NASDAQ:VBTX)

Russell Investments Group Ltd. lowered its holdings in Veritex Holdings Inc (NASDAQ:VBTX) by 41.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 78,218 shares of the financial services provider’s stock after selling 56,137 shares during the quarter. Russell Investments Group Ltd.’s holdings in Veritex were worth $2,029,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Veritex by 142.0% in the 1st quarter. Bank of Montreal Can now owns 1,929 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,132 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Veritex by 24.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,736 shares of the financial services provider’s stock worth $66,000 after buying an additional 533 shares during the last quarter. Hillcrest Wealth Advisors NY LLC purchased a new position in shares of Veritex in the 1st quarter worth approximately $212,000. BNP Paribas Arbitrage SA grew its position in shares of Veritex by 131,057.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,181 shares of the financial services provider’s stock worth $222,000 after buying an additional 9,174 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Veritex in the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds own 78.14% of the company’s stock.

Shares of Veritex stock traded up $0.21 on Thursday, reaching $25.37. The stock had a trading volume of 4,139 shares, compared to its average volume of 299,693. The company has a 50 day moving average price of $23.96 and a 200 day moving average price of $25.40. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.49. Veritex Holdings Inc has a 1 year low of $20.34 and a 1 year high of $30.98. The stock has a market capitalization of $1.35 billion, a P/E ratio of 13.77 and a beta of 1.57.

Veritex (NASDAQ:VBTX) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). The company had revenue of $77.48 million for the quarter, compared to analysts’ expectations of $82.50 million. Veritex had a return on equity of 9.83% and a net margin of 18.42%. On average, analysts forecast that Veritex Holdings Inc will post 2.4 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.97%. The ex-dividend date was Wednesday, August 7th. Veritex’s dividend payout ratio is presently 27.17%.

In other Veritex news, CEO C Malcolm Holland III sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $25.88, for a total transaction of $64,700.00. Following the sale, the chief executive officer now owns 101,777 shares of the company’s stock, valued at approximately $2,633,988.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Angela Harper sold 1,800 shares of Veritex stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $25.90, for a total transaction of $46,620.00. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on VBTX shares. Zacks Investment Research downgraded shares of Veritex from a “buy” rating to a “sell” rating in a research report on Saturday, July 13th. ValuEngine downgraded shares of Veritex from a “hold” rating to a “sell” rating in a research report on Monday, June 24th. BidaskClub downgraded shares of Veritex from a “sell” rating to a “strong sell” rating in a research report on Friday, August 9th. Raymond James cut their price objective on shares of Veritex from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Stephens set a $29.00 price objective on shares of Veritex and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Veritex presently has a consensus rating of “Hold” and an average price target of $28.67.

About Veritex

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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Want to see what other hedge funds are holding VBTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veritex Holdings Inc (NASDAQ:VBTX).

Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

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