Equity analysts expect Veritex Holdings, Inc. (NASDAQ:VBTX – Get a rating) to report earnings per share of $0.69 for the current quarter, according to Zacks. Two analysts provided Veritex earnings estimates. The highest EPS estimate is $0.71 and the lowest is $0.65. Veritex reported earnings of $0.60 per share in the same quarter last year, suggesting a positive 15% year-over-year growth rate. The company is due to release its next earnings report on Monday, January 1.
On average, analysts expect Veritex to report full year earnings of $2.95 per share for the current year, with EPS estimates ranging from $2.75 to $3.05. For the next fiscal year, analysts expect the company to post earnings of $3.56 per share, with EPS estimates ranging from $3.40 to $3.64. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Veritex.
Veritex (NASDAQ:VBTX – Get a rating) last released its quarterly results on Tuesday, April 26. The financial services provider reported earnings per share of $0.66 for the quarter, missing analyst consensus estimates of $0.67 per ($0.01). Veritex had a return on equity of 10.64% and a net margin of 37.12%. During the same period last year, the company achieved EPS of $0.64.
A number of research analysts have recently released reports on the stock. Raymond James raised his price target on Veritex shares from $46.00 to $49.00 and gave the company a “Strong Buy” rating in a Thursday, January 27 research report. Zacks Investment Research downgraded Veritex from a “buy” rating to a “hold” rating in a Friday, March 11 research note. StockNews.com began covering Veritex in a research note on Thursday, March 31. They have set a “holding” rating on the stock. DA Davidson reissued a “buy” rating on Veritex stock in a Wednesday, January 26, research note. Finally, Piper Sandler lowered her price target on Veritex from $49.00 to $46.00 and set an “overweight” rating on the stock in a Wednesday, March 9 research report. Two equity research analysts gave the stock a hold rating, two gave the company a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $46.25.
VBTX was down $0.31 during Friday trading, hitting $31.60. The company’s shares had a trading volume of 2,321 shares, compared to an average volume of 348,367. The company has a market capitalization of $1.71 billion, a P/E ratio of 11.38 and a beta of 1.49. Veritex has a 12-month low of $27.28 and a 12-month high of $45.36. The stock’s fifty-day moving average price is $35.98 and its 200-day moving average price is $38.91. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt ratio of 0.69.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27. Shareholders of record on Friday, May 13 will receive a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, May 12. Veritex’s payout ratio is currently 28.67%.
In other Veritex news, Director John Sughrue bought 4,000 Veritex shares in a trade dated Monday, May 2. The stock was purchased at an average cost of $33.52 per share, with a total value of $134,080.00. Following the completion of the acquisition, the administrator now directly owns 70,677 shares of the company, valued at approximately $2,369,093.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, director Pat S. Bolin acquired 13,158 shares of the company in a transaction on Tuesday, March 8. The shares were acquired at an average cost of $38.00 per share, for a total transaction of $500,004.00. Disclosure of this purchase can be found here. Insiders bought 17,815 shares of the company worth $659,050 in the past 90 days. Company insiders own 4.72% of the company’s shares.
Large investors have recently changed their stock holdings. The Public Sector Pension Investment Board increased its position in Veritex by 0.3% in the fourth quarter. The Public Sector Pension Investment Board now owns 100,407 shares of the financial services provider worth $3,994,000 after acquiring 330 additional shares during the period. Mutual of America Capital Management LLC increased its stake in Veritex by 5.6% during the first quarter. Mutual of America Capital Management LLC now owns 7,114 shares of the financial services provider valued at $272,000 after purchasing an additional 379 shares during the period. Yousif Capital Management LLC increased its position in Veritex by 0.8% in the first quarter. Yousif Capital Management LLC now owns 48,088 shares of the financial services provider worth $1,836,000 after buying 382 additional shares in the last quarter. Maryland State Retirement & Pension System increased its position in Veritex shares by 2.3% in the 1st quarter. Maryland State Retirement & Pension System now owns 19,940 shares of the financial services provider valued at $761,000 after buying an additional 440 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Veritex shares by 6.3% in the 1st quarter. M&T Bank Corp now owns 7,876 shares of the financial services provider worth $300,000 after acquiring 467 additional shares during the period. 77.53% of the shares are currently held by institutional investors.
About Veritex (Get a rating)
Veritex Holdings, Inc. operates as a bank holding company for Veritex Community Bank which provides various commercial banking products and services to small and medium businesses and professionals. The Company accepts deposit products including current, savings, money market and term accounts. Its lending products include Commercial and General Commercial Real Estate, Warehouse Mortgages, Residential Real Estate, Construction and Land, Farmland, Consumer, Paycheck Protection Program, Residential Lending for 1 to 4 families, agricultural, multi-family residential and consumer, as well as in the form of purchased receivables financing.
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