CSM Advisors LLC Makes New $3.82 Million Investment in Veritex Holdings, Inc. $VBTX

CSM Advisors LLC purchased a new stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 146,175 shares of the financial services provider’s stock, valued at approximately $3,815,000. CSM Advisors LLC owned about 0.27% of Veritex at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VBTX. Acadian Asset Management LLC purchased a new stake in Veritex in the first quarter valued at approximately $28,000. GAMMA Investing LLC raised its position in shares of Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,011 shares in the last quarter. Strs Ohio purchased a new stake in shares of Veritex during the 1st quarter valued at $135,000. Quarry LP lifted its holdings in shares of Veritex by 327.6% during the 1st quarter. Quarry LP now owns 6,534 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 5,006 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in Veritex by 12.6% in the first quarter. EP Wealth Advisors LLC now owns 9,568 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 1,074 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on VBTX. DA Davidson raised their price target on Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Piper Sandler reissued a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Veritex in a research report on Wednesday, October 8th. William Blair upgraded shares of Veritex to an “outperform” rating in a research report on Monday, July 14th. Finally, The Goldman Sachs Group began coverage on Veritex in a report on Monday, July 14th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Veritex Trading Up 1.0%

Shares of VBTX opened at $30.26 on Monday. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $34.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $32.34 and its 200-day moving average price is $29.34. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 14.41 and a beta of 1.06.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Thursday, March 3rd. The financial services provider reported $0.64 EPS for the quarter. The business had revenue of $64.03 million during the quarter. Veritex had a net margin of 14.83% and a return on equity of 7.55%. Sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Veritex’s payout ratio is currently 41.90%.

Insider Buying and Selling

In related news, Director John Sughrue sold 5,669 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $32.00, for a total value of $181,408.00. Following the sale, the director directly owned 50,652 shares of the company’s stock, valued at $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Angela Harper sold 2,527 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $33.68, for a total value of $85,109.36. Following the transaction, the executive vice president directly owned 53,991 shares of the company’s stock, valued at $1,818,416.88. This represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,813 shares of company stock valued at $390,689 over the last ninety days. Company insiders own 4.30% of the company’s stock.

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.