Emerald Mutual Fund Advisers Trust Has $3.65 Million Holdings in Veritex Holdings, Inc. (VBTX)
Emerald Mutual Fund Advisers Trust grew its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 123.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,517 shares of the financial services provider’s stock after acquiring an additional 75,000 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.89% of Veritex Holdings worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new position in Veritex Holdings during the 3rd quarter worth $236,000. Nationwide Fund Advisors boosted its holdings in shares of Veritex Holdings by 31.8% in the 2nd quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock worth $232,000 after buying an additional 2,128 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Veritex Holdings in the 2nd quarter worth about $259,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Veritex Holdings by 52.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,518 shares of the financial services provider’s stock worth $329,000 after buying an additional 4,304 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Veritex Holdings by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 12,596 shares of the financial services provider’s stock worth $332,000 after buying an additional 491 shares during the last quarter. 53.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Piper Jaffray Companies reissued a “neutral” rating and issued a $29.50 price target (up from $29.00) on shares of Veritex Holdings in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Veritex Holdings from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub downgraded shares of Veritex Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Stephens set a $32.00 price target on shares of Veritex Holdings and gave the stock a “buy” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.83.
Veritex Holdings, Inc. (NASDAQ VBTX) opened at $26.24 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The firm has a market cap of $594.30 million, a PE ratio of 27.02, a P/E/G ratio of 2.68 and a beta of 1.62. Veritex Holdings, Inc. has a fifty-two week low of $17.45 and a fifty-two week high of $29.43.
Veritex Holdings (NASDAQ:VBTX) last issued its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The company had revenue of $21.11 million during the quarter, compared to analysts’ expectations of $20.80 million. Veritex Holdings had a return on equity of 5.30% and a net margin of 21.85%. analysts predict that Veritex Holdings, Inc. will post 0.99 earnings per share for the current fiscal year.
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In related news, insider Ned N. Fleming III sold 66,997 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $26.90, for a total value of $1,802,219.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Clayton Riebe acquired 1,950 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average price of $25.19 per share, for a total transaction of $49,120.50. Following the completion of the purchase, the insider now directly owns 4,686 shares in the company, valued at approximately $118,040.34. The disclosure for this purchase can be found here. Insiders sold a total of 419,800 shares of company stock worth $11,059,556 over the last 90 days. 6.90% of the stock is currently owned by company insiders.
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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