SG Americas Securities LLC Acquires Shares in Veritex Holdings, Inc.

In the third quarter, SG Americas Securities LLC made a significant investment by acquiring shares in Veritex Holdings, Inc. (NASDAQ: VBTX). As reported by Holdings Channel, the firm purchased a total of 36,046 shares, which amounts to an investment valued at approximately $949,000.

This acquisition comes amid a trend of other large investors actively trading shares of Veritex. For instance, Wellington Management Group LLP increased its stake in Veritex by 10.1% during the fourth quarter. After adding 50,406 shares, Wellington now owns 547,221 shares, valued at around $12,734,000. Similarly, Vanguard Group Inc. expanded its investment in Veritex, raising its holdings by 1.4% during the same fourth quarter period and owning 3,772,114 shares worth approximately $87,777,000.

Principal Financial Group Inc. also increased its holdings by 11.7% in the first quarter, now holding 316,050 shares valued at about $6,476,000. In another notable move, BNP Paribas Financial Markets raised its stake in Veritex by 38.7% in the first quarter, owning 53,362 shares worth approximately $1,093,000 after acquiring an additional 14,884 shares. Capstone Investment Advisors LLC has also entered the picture by purchasing shares in Veritex valued at about $332,000. Currently, institutional investors hold about 88.31% of the company’s stock.

Analyst Insights

Veritex has attracted attention from various analysts. DA Davidson reaffirmed a “buy” rating with a price target of $29.00 as of August 28th. Piper Sandler recently upgraded their target from $26.00 to $27.00 while providing an “overweight” rating. Similarly, Stephens raised their price objective from $24.00 to $27.00 and assigned an “equal weight” rating. Raymond James has also upgraded Veritex, moving from a “market perform” rating to a “strong-buy” designation with a target price of $30.00. Overall, two analysts rate the stock as a hold, three as a buy, and one as a strong buy. Based on MarketBeat data, the consensus rating stands at “Moderate Buy” with an average target price of $28.00.

Latest Stock Performance

Recent Trading Performance

As of the latest trading sessions, Veritex stock (NASDAQ: VBTX) opened at $25.98. The company has shown a fifty-day simple moving average of $24.26 and a 200-day simple moving average of $22.08. With a market capitalization of $1.41 billion, Veritex has a price-to-earnings ratio of 16.24 and a beta of 1.37, indicating some volatility in the stock price. The stock's performance over the past year shows a low of $15.93 and a high of $26.72. Financial indicators such as a current ratio and quick ratio of 0.95, with a debt-to-equity ratio of 0.15, reflect a healthy financial condition.

In its last earnings report on July 23rd, Veritex revealed earnings per share of $0.52 for the quarter, falling slightly short of analysts’ expectation of $0.53. The firm reported revenue of $106.81 million, which was below the anticipated $108.39 million. Comparatively, the revenue decreased by 6.7% year-over-year. Analysts predict that Veritex will end the current fiscal year with an EPS of 2.13.

Dividend Announcement

Veritex has also made headlines with its dividend distribution. A quarterly dividend of $0.20 per share was paid on August 23rd to shareholders who were on record by August 9th. This dividend represents an annual yield of 3.08% and a payout ratio of 50.00% of earnings.

Company Overview

Veritex Holdings, Inc. functions as the bank holding company for Veritex Community Bank. The company specializes in providing diverse commercial banking products and services primarily aimed at small and medium-sized businesses. Their offerings include various deposit products like demand, savings, and money market accounts, along with commercial and residential loan options.

Investment, Shares, Trading