Phocas Financial Corp. Invests $3.55 Million in Veritex Holdings, Inc. $VBTX

Phocas Financial Corp. purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX) during the second quarter, according to its most recent filing with the SEC. The firm purchased 135,981 shares of the financial services provider’s stock, valued at approximately $3,549,000. Phocas Financial Corp. owned 0.25% of Veritex at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Veritex by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider’s stock valued at $98,172,000 after purchasing an additional 56,676 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Veritex by 3.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider’s stock valued at $50,960,000 after buying an additional 59,056 shares during the period. Millennium Management LLC increased its position in shares of Veritex by 22.7% in the 1st quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider’s stock valued at $29,598,000 after buying an additional 218,962 shares in the last quarter. Nuveen LLC acquired a new stake in Veritex during the 1st quarter worth $29,215,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Veritex by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 769,057 shares of the financial services provider’s stock worth $19,203,000 after acquiring an additional 27,783 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.

Analysts Set New Price Targets

VBTX has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. DA Davidson increased their target price on Veritex from $32.00 to $39.00 and gave the stock a “buy” rating in a research note 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 started coverage on shares of Veritex in a report on Monday, July 14th. They issued a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Veritex in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.25.

Insider Buying and Selling at Veritex

In other news, Director Arcilia Acosta sold 3,617 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $34.33, for a total value of $124,171.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Sughrue sold 5,669 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 50,652 shares in the company, valued at $1,620,864. The trade was a 10.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,813 shares of company stock worth $390,689 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Veritex Trading Up 1.0%

NASDAQ VBTX opened at $30.26 on Thursday. The company has a market cap of $1.66 billion, a PE ratio of 14.41 and a beta of 1.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 12 month low of $20.37 and a 12 month high of $34.96. The stock has a 50 day moving average of $32.50 and a 200-day moving average of $29.18.

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 firm had revenue of $64.03 million for the quarter. On average, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

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

Veritex Company 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.