On September 19, 2023, it was reported that Harbor Capital Advisors Inc. had purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX) during the second quarter of the year. According to the Securities and Exchange Commission (SEC) filing, Harbor Capital Advisors Inc. acquired 37,400 shares of Veritex’s stock, valued at approximately $671,000. At the end of the quarter, Harbor Capital Advisors Inc. owned around 0.07% of Veritex.
Veritex recently announced its earnings results on July 25th. For the quarter, the financial services provider reported earnings per share of $0.64, falling short of analysts’ consensus estimates by $0.14. The company generated revenue of $114.52 million during this period, slightly lower than the consensus estimate of $117.40 million. Veritex achieved a return on equity of 11.08% and a net margin of 22.77%. Analysts predict that Veritex Holdings will post an earnings per share figure of 2.7 for the current year.
The acquisition by Harbor Capital Advisors Inc., demonstrated their confidence in Veritex Holdings’ potential for growth and stability within the financial services sector.
Agree Realty Corporation
ADC
Buy
Updated on: 28/09/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Recent Fluctuations in Stock Ownership and Analyst Reports Highlight the Dynamic Nature of Veritex Holdings Inc.’s Market Reception
Veritex Holdings, Inc., a financial services provider, has recently seen fluctuations in its stock ownership by large investors. Notably, Y Intercept Hong Kong Ltd increased its position in Veritex by 7.5% during the first quarter, resulting in the acquisition of 14,219 shares valued at $260,000. Similarly, JPMorgan Chase & Co. raised its position in Veritex by a staggering 115.6% during the fourth quarter, purchasing an additional 875,412 shares worth $45,842,000.
Another investor making waves in Veritex’s stock is Duality Advisers LP. This firm recently entered the scene during the first quarter with an investment of approximately $676,000. Meanwhile, American Century Companies Inc., having raised its position by 4.8%, now owns around 2,376,090 shares valued at $43,387,000.
Adding to the list of entities increasing their stake in Veritex is Jump Financial LLC. This investor experienced significant growth during the first quarter with a surge of 237.4%, acquiring an extra 50,836 shares amounting to $1,319,000.
It is worth noting that institutional investors currently own an impressive 87.29% of Veritex’s stock. Such substantial involvement from institutional investors illustrates their confidence and interest in the company’s future prospects.
On September 19th of this year (2023), VBTX stock opened at $18.05 per share. The company possesses a market capitalization of approximately $980.30 million and exhibits a P/E ratio of 6.36 with a beta coefficient standing at 1.45.
Additionally, Veritex showcases a 50-day simple moving average of $19.67 and a two-hundred-day simple moving average of $18.97 – figures that provide valuable insight into recent stock trends.
Regarding the company’s financial health, Veritex Holdings, Inc. demonstrates a debt-to-equity ratio of 1.04 and a quick ratio and current ratio of 1.09 each. These figures suggest that the company possesses adequate liquidity to meet its short-term obligations.
Prior to this report, Veritex revealed information about its quarterly dividend. Shareholders of record on Thursday, August 10th received a $0.20 dividend per share on Friday, August 25th. With an ex-dividend date set as Wednesday, August 9th, this quarterly dividend amounts to an annualized yield of 4.43%.
The dividend payout ratio (DPR) for Veritex stands at 28.17% at present, implying the company is allocating a significant portion of its earnings towards rewarding shareholders.
An analysis of brokerages’ reports on VBTX reveals notable insights from various perspectives. Specifically, Stephens raised their price objective for Veritex from $21.00 to $23.00 in a research report issued on Thursday, July 27th.
Similarly, StockNews.com upgraded Veritex from “sell” to “hold” in a research report published on Friday, August 25th.
Conversely, Hovde Group downgraded Veritex from “outperform” to “market perform,” establishing a price objective of $20.50 in their research report released on Wednesday, July 5th.
These reports have contributed to Bloomberg’s consensus rating for Veritex – “Hold”. The average target price determined by analysts currently stands at $28.38.
Overall, recent activities involving large investors and analyst reports demonstrate the dynamic nature surrounding Veritex Holdings Inc.’s stock performance and market reception.
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