Ned N. Fleming III Sells 55,134 Shares of Veritex Holdings, Inc. (VBTX) Stock
Veritex Holdings, Inc. (NASDAQ:VBTX) insider Ned N. Fleming III sold 55,134 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $26.16, for a total transaction of $1,442,305.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) opened at 26.07 on Friday. The company has a 50-day moving average of $26.57 and a 200-day moving average of $27.15. Veritex Holdings, Inc. has a one year low of $15.46 and a one year high of $29.43. The company has a market capitalization of $396.63 million, a PE ratio of 26.47 and a beta of 1.66.
Veritex Holdings (NASDAQ:VBTX) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $14.14 million during the quarter, compared to the consensus estimate of $16.40 million. Veritex Holdings had a net margin of 22.61% and a return on equity of 6.09%. On average, analysts anticipate that Veritex Holdings, Inc. will post $1.06 earnings per share for the current year.
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A number of equities research analysts recently issued reports on the stock. Piper Jaffray Companies reiterated a “neutral” rating and issued a $29.50 price objective (up from $29.00) on shares of Veritex Holdings in a report on Wednesday, August 9th. Stephens set a $32.00 price objective on shares of Veritex Holdings and gave the stock a “buy” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Veritex Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut shares of Veritex Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Veritex Holdings currently has an average rating of “Hold” and a consensus price target of $31.83.
Several hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in shares of Veritex Holdings by 31.8% in the second quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock valued at $232,000 after buying an additional 2,128 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Veritex Holdings during the second quarter valued at approximately $259,000. The Manufacturers Life Insurance Company increased its stake in shares of Veritex Holdings by 52.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,518 shares of the financial services provider’s stock valued at $329,000 after buying an additional 4,304 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Veritex Holdings by 4.1% in the second quarter. Wells Fargo & Company MN now owns 12,596 shares of the financial services provider’s stock valued at $332,000 after buying an additional 491 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Veritex Holdings by 66.4% in the second quarter. Rhumbline Advisers now owns 14,807 shares of the financial services provider’s stock valued at $390,000 after buying an additional 5,911 shares in the last quarter. Institutional investors own 73.68% of the company’s stock.
About Veritex Holdings
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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