Peregrine Capital Management LLC Has $5.21 Million Stock Holdings in Veritex Holdings, Inc. $VBTX

Peregrine Capital Management LLC cut its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,421 shares of the financial services provider’s stock after selling 6,674 shares during the period. Peregrine Capital Management LLC owned about 0.37% of Veritex worth $5,205,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its position in Veritex by 2.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,978 shares of the financial services provider’s stock worth $521,000 after buying an additional 530 shares during the period. SummerHaven Investment Management LLC boosted its position in Veritex by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,699 shares of the financial services provider’s stock worth $984,000 after buying an additional 643 shares during the period. New York State Common Retirement Fund boosted its position in Veritex by 6.9% during the 1st quarter. New York State Common Retirement Fund now owns 15,425 shares of the financial services provider’s stock worth $385,000 after buying an additional 1,000 shares during the period. Gamco Investors INC. ET AL boosted its position in Veritex by 3.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the financial services provider’s stock worth $674,000 after buying an additional 1,000 shares during the period. Finally, GAMMA Investing LLC boosted its position in Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,011 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Angela Harper sold 2,527 shares of the company’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 completion of the sale, the executive vice president owned 53,991 shares in the company, valued at $1,818,416.88. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Fallon William sold 7,220 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $30.68, for a total transaction of $221,509.60. Following the completion of the sale, the director owned 14,191 shares of the company’s stock, valued at approximately $435,379.88. The trade was a 33.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 19,033 shares of company stock worth $612,199. 4.30% of the stock is owned by insiders.

Veritex Stock Performance

NASDAQ VBTX opened at $30.26 on Wednesday. The company has a fifty day simple moving average of $32.85 and a 200 day simple moving average of $28.81. Veritex Holdings, Inc. has a 12-month low of $20.37 and a 12-month 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 company has a market cap of $1.66 billion, a P/E ratio of 14.41 and a beta of 1.06.

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

Veritex Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. DA Davidson lifted their target price on shares of Veritex from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. William Blair upgraded shares of Veritex to an “outperform” rating in a report on Monday, July 14th. The Goldman Sachs Group assumed coverage on shares of Veritex in a report on Monday, July 14th. They set a “buy” rating for the company. Keefe, Bruyette & Woods raised their price target on shares of Veritex from $30.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Finally, Piper Sandler restated a “neutral” rating and set a $34.00 price target (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.25.

Veritex Profile

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.