Veritex (NASDAQ:VBTX) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Veritex (NASDAQ:VBTX) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02), Zacks reports. Veritex had a net margin of 11.11% and a return on equity of 7.79%.

Veritex Stock Up 0.9 %

Shares of NASDAQ:VBTX traded up $0.23 during midday trading on Tuesday, reaching $26.94. The company’s stock had a trading volume of 406,095 shares, compared to its average volume of 433,609. Veritex has a 12-month low of $18.08 and a 12-month high of $31.62. The firm has a market capitalization of $1.47 billion, a P/E ratio of 17.27 and a beta of 1.38. The firm has a 50 day moving average of $28.05 and a 200-day moving average of $26.29. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. Veritex’s payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson lifted their target price on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler boosted their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Veritex presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Insider Transactions at Veritex

In other news, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

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.