Company profile

Ticker
VBTX
Exchange
CEO
Charles Malcolm Holland
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK

VBTX stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Nov 20
24 Jan 21
31 Dec 21

News

Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Veritex earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 128.77M 128.77M 128.77M 128.77M 128.77M 128.77M
Cash burn (monthly) 10.51M 11.42M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 40.33M 43.82M n/a n/a n/a n/a
Cash remaining 88.44M 84.95M n/a n/a n/a n/a
Runway (months of cash) 8.4 7.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jan 21 Holland C Malcolm III Common Stock Payment of exercise Dispose F No 25.66 2,709 69.51K 158,600
1 Jan 21 Holland C Malcolm III Common Stock Option exercise Aquire M No 0 10,000 0 161,309
1 Jan 21 Holland C Malcolm III RSU Common Stock Option exercise Dispose M No 0 10,000 0 30,000
1 Jan 21 Earley Terry Common Stock Payment of exercise Dispose F No 25.66 3,927 100.77K 50,890
1 Jan 21 Earley Terry Common Stock Option exercise Aquire M No 0 15,000 0 54,817
1 Jan 21 Earley Terry RSU Common Stock Option exercise Dispose M No 0 15,000 0 15,000
1 Jan 21 Riebe Michael Clayton Common Stock Payment of exercise Dispose F No 25.66 1,482 38.03K 24,593
1 Jan 21 Riebe Michael Clayton Common Stock Option exercise Aquire M No 0 5,000 0 26,075
1 Jan 21 Riebe Michael Clayton RSU Common Stock Option exercise Dispose M No 0 5,000 0 5,000
1 Jan 21 Lerner Steven D. Common Stock Option exercise Aquire M No 0 644 0 28,296
81.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 150 155 -3.2%
Opened positions 10 20 -50.0%
Closed positions 15 19 -21.1%
Increased positions 51 62 -17.7%
Reduced positions 53 52 +1.9%
13F shares
Current Prev Q Change
Total value 1.79B 1.71B +4.6%
Total shares 40.28M 40.29M -0.0%
Total puts 13.05K 0 NEW
Total calls 0 0
Total put/call ratio Infinity
Largest owners
Shares Value Change
BLK Blackrock 7.06M $120.28M +0.1%
FJ Capital Management 3.26M $55.46M +11.3%
Vanguard 3.1M $52.85M +0.7%
STT State Street 1.69M $28.81M -9.1%
Brown Advisory 1.22M $20.85M +6.0%
Investment Counselors Of Maryland 1.13M $19.2M +14.1%
Wellington Management 1.13M $19.18M -18.2%
LSV Asset Management 1.11M $18.92M +21.2%
Victory Capital Management 1.1M $18.7M -6.8%
Aristotle Capital Boston 997.17K $16.98M +0.7%
Largest transactions
Shares Bought/sold Change
FJ Capital Management 3.26M +330K +11.3%
JHG Janus Henderson 619.85K -266.01K -30.0%
Wellington Management 1.13M -250.86K -18.2%
LSV Asset Management 1.11M +194.23K +21.2%
STA Wealth Management 0 -182.19K EXIT
STT State Street 1.69M -169.79K -9.1%
Investment Counselors Of Maryland 1.13M +139.58K +14.1%
Citadel Advisors 0 -122.01K EXIT
Inscription Capital 103.2K +103.2K NEW
Employees Retirement System of Texas 102K +102K NEW

Financial report summary

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Risks
  • Our business concentration in Texas, and specifically the Dallas-Fort Worth metroplex and the Houston metropolitan area, imposes risks and may magnify the consequences of any regional or local economic downturn affecting the Dallas-Fort Worth metroplex and the Houston metropolitan area, including any downturn in the real estate sector.
  • Uncertain market conditions and economic trends could adversely affect our business, financial condition and results of operations.
  • Interest rate shifts could reduce net interest income and otherwise negatively impact our financial condition and results of operations.
  • The small to medium-sized businesses that we lend to may have fewer resources to weather adverse business developments, which may impair a borrower’s ability to repay a loan, and such impairment could adversely affect our results of operations and financial condition.
  • Our allowance for loan losses may prove to be insufficient to absorb potential losses in our loan portfolio, which could adversely affect our business, financial condition and results of operations.
  • Our financial condition and results of operations may be adversely affected by changes in accounting policies, standards and interpretations.
  • We may be unable to implement aspects of our growth strategy, which may affect our ability to maintain historical earnings trends.
  • Our strategy of pursuing acquisitions exposes us to financial, execution and operational risks that could have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • Our ability to retain bankers and recruit additional successful bankers is critical to the success of our business strategy, and any failure to do so could adversely affect our business, financial condition, results of operations and growth prospects.
  • Loss of any of our executive officers or other key employees could impair relationships with our customers and adversely affect our business.
  • The relatively unseasoned nature of a significant portion of our loan portfolio may expose us to increased credit risks.
  • Our commercial real estate and construction and land loan portfolios expose us to credit risks that could be greater than the risks related to other types of loans.
  • Because a significant portion of our loan portfolio consists of real estate loans, negative changes in the economy affecting real estate values and liquidity could impair the value of collateral securing our real estate loans and result in loan and other losses.
  • We may be subject to environmental liabilities in connection with the foreclosure on real estate assets securing our loan portfolio.
  • We have a concentration of loans outstanding to a limited number of borrowers, which may increase our risk of loss.
  • A lack of liquidity could impair our ability to fund operations, adversely affect our operations and jeopardize our business, financial condition and results of operations.
  • We have a limited operating history and, accordingly, investors will have little basis on which to evaluate its ability to achieve our business objectives.
  • We may need to raise additional capital in the future, and if we fail to maintain sufficient capital, whether due to losses, an inability to raise additional capital or otherwise, our financial condition, liquidity and results of operations, as well as the ability to maintain regulatory compliance, could be adversely affected.
  • We could recognize losses on investment securities held in our securities portfolio, particularly if interest rates increase or economic and market conditions deteriorate.
  • We face strong competition from financial services companies and other companies that offer banking services, which could adversely affect our business, financial condition and results of operations.
  • Negative public opinion regarding Veritex or our failure to maintain our reputation in the community could adversely affect our business and prevent us from continuing to grow our business.
  • We may not be able to report our financial results accurately and timely as a publicly listed company if we fail to maintain an effective system of disclosure controls and procedures and internal control over financial reporting.
  • We are subject to certain operational risks, including, but not limited to, customer or employee fraud and data processing system failures and errors.
  • We have a continuing need for technological change and may not have the resources to effectively implement new technology, or may experience operational challenges when implementing new technology.
  • Our operations could be interrupted if third-party service providers experience difficulty, terminate their services or fail to comply with banking regulations.
  • Consumers may decide not to use banks to complete their financial transactions.
  • If the goodwill that we have recorded or may record in connection with a business acquisition becomes impaired, it could require charges to earnings, which would adversely affect our business, financial condition and results of operations.
  • The ongoing changes in regulation could adversely affect our business, financial condition, and results of operations.
  • We operate in a highly regulated environment and the laws and regulations that govern our operations, corporate governance, executive compensation and accounting principles, or changes in them, or failure to comply with them, could adversely affect our business, financial condition and results of operations.
  • State and federal banking agencies periodically conduct examinations of our business, including our compliance with laws and regulations, and failure to comply with any supervisory actions to which we are or may become subject as a result of such examinations could adversely affect our business, financial condition and results of operations.
  • Many of our new activities and expansion plans require regulatory approvals, and failure to obtain them may restrict future growth.
  • Financial institutions, such as the Bank, face a risk of noncompliance with and enforcement action under the Bank Secrecy Act and other anti-money laundering statutes and regulations.
  • We are subject to the CRA and fair lending laws, and failure to comply with these laws could lead to material penalties.
  • The FDIC’s restoration plan and the related increased assessment rate could adversely affect our earnings and results of operations.
  • We are subject to increased capital requirements, which may adversely impact return on equity or prevent us from paying dividends or repurchasing shares.
  • The Federal Reserve may require us to commit capital resources to support the Bank.
  • We could be adversely affected by the soundness of other financial institutions.
  • Monetary policies and regulations of the Federal Reserve could adversely affect our business, financial condition and results of operations.
  • The market price of Our common stock may fluctuate significantly.
  • If securities or industry analysts change their recommendations regarding our common stock or if our operating results do not meet their expectations, our stock price could decline.
  • Future sales or the possibility of future sales of a substantial amount of our common stock may depress the price of the common stock.
  • The holders of our debt obligations will have priority over our common stock with respect to payment in the event of liquidation, dissolution or winding up of Veritex and with respect to the payment of interest and preferred dividends.
  • We depend on the Bank for cash flow, and the Bank’s ability to make cash distributions is restricted, which could impact our ability to satisfy its obligations.
  • Our dividend policy may change without notice, our future ability to pay dividends is subject to restrictions, and we may not pay dividends in the future.
  • The requirements of being a public company, including compliance with the reporting requirements of the Exchange Act and the requirements of the Sarbanes-Oxley Act, may strain our resources, increase our costs and distract management.
  • Shareholders may be deemed to be acting in concert or otherwise in control of us, which could impose notice, approval and ongoing regulatory requirements upon them and result in adverse regulatory consequences for such holders.
  • An investment in our common stock is not an insured deposit and is not guaranteed by the FDIC, so you could lose some or all of your investment.
Content analysis ?
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Negative
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Legalese
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Readability
H.S. junior Avg
New words: absolute, adhere, appraisal, buy, creation, deadline, facilitate, facility, hiring, Holdco, ISDA, ofa, PPPLF, published, receipt, refuse, resurgence, slightly, SOFR, student, unforgiven, vaccine, wave, word
Removed: acquiring, agent, developed, director, dollar, formed