Assenagon Asset Management S.A. Purchases Shares of 25,400 Veritex Holdings Inc (NASDAQ:VBTX)

Assenagon Asset Management S.A. purchased a new stake in Veritex Holdings Inc (NASDAQ:VBTX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,400 shares of the financial services provider’s stock, valued at approximately $616,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue boosted its stake in shares of Veritex by 141.1% in the third quarter. State of Alaska Department of Revenue now owns 37,398 shares of the financial services provider’s stock valued at $907,000 after purchasing an additional 21,884 shares during the period. Phocas Financial Corp. purchased a new position in shares of Veritex in the second quarter valued at $51,000. Royal Bank of Canada boosted its stake in shares of Veritex by 5.6% in the second quarter. Royal Bank of Canada now owns 9,091 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 482 shares during the period. First Manhattan Co. boosted its stake in shares of Veritex by 2.0% in the second quarter. First Manhattan Co. now owns 535,941 shares of the financial services provider’s stock valued at $13,907,000 after purchasing an additional 10,650 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in shares of Veritex in the second quarter valued at $506,000. 78.10% of the stock is currently owned by institutional investors.

NASDAQ VBTX opened at $24.90 on Wednesday. Veritex Holdings Inc has a 12 month low of $20.34 and a 12 month high of $28.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 13.53 and a beta of 1.57. The company’s fifty day moving average price is $24.38 and its two-hundred day moving average price is $25.17.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). Veritex had a return on equity of 9.83% and a net margin of 18.42%. The business had revenue of $79.30 million during the quarter, compared to the consensus estimate of $79.90 million. As a group, analysts anticipate that Veritex Holdings Inc will post 2.33 EPS for the current year.

In related news, CEO C Malcolm Holland III sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $25.88, for a total value 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Manuel J. Mehos sold 7,400 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.40, for a total transaction of $187,960.00. Following the completion of the sale, the director now directly owns 440,831 shares in the company, valued at approximately $11,197,107.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,700 shares of company stock worth $299,280. Insiders own 3.92% of the company’s stock.

Several brokerages have recently weighed in on VBTX. Zacks Investment Research upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. BidaskClub downgraded shares of Veritex from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. Raymond James decreased their target price on shares of Veritex from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. ValuEngine downgraded shares of Veritex from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Stephens set a $29.00 target price on shares of Veritex and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $28.67.

Veritex 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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Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

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