Veritex (NASDAQ:VBTX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Veritex (NASDAQ:VBTX) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04, Yahoo Finance reports. The firm had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS.

Veritex Trading Down 1.5 %

NASDAQ VBTX traded down $0.41 during trading hours on Thursday, hitting $27.47. 311,124 shares of the company’s stock were exchanged, compared to its average volume of 403,694. The business’s 50 day moving average is $25.18 and its 200-day moving average is $22.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Veritex has a 12-month low of $15.93 and a 12-month high of $28.46. The firm has a market capitalization of $1.50 billion, a P/E ratio of 15.97 and a beta of 1.37.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.91%. Veritex’s payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VBTX shares. Piper Sandler increased their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday. DA Davidson increased their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, September 17th. Finally, StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.40.

About Veritex

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.