Analysts expect Veritex Holdings Inc (NASDAQ:VBTX) to post earnings of $0.43 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Veritex’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.38. Veritex posted earnings of $0.53 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 18.9%. The firm is expected to announce its next quarterly earnings report on Monday, October 19th.
On average, analysts expect that Veritex will report full-year earnings of $1.42 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.54. For the next fiscal year, analysts forecast that the business will post earnings of $1.71 per share, with EPS estimates ranging from $1.38 to $1.94. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Veritex.
Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Veritex had a return on equity of 7.16% and a net margin of 21.27%. The firm had revenue of $87.05 million for the quarter, compared to the consensus estimate of $76.10 million.
VBTX has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Piper Sandler dropped their price target on shares of Veritex from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, BidaskClub upgraded Veritex from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.50.
Veritex stock traded up $0.56 during midday trading on Tuesday, reaching $18.31. 194,641 shares of the stock traded hands, compared to its average volume of 220,781. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.06. The firm has a market cap of $909.04 million, a PE ratio of 11.30 and a beta of 1.87. The company has a 50-day simple moving average of $17.64 and a two-hundred day simple moving average of $17.60. Veritex has a 12-month low of $10.02 and a 12-month high of $29.41.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Wednesday, August 5th. Veritex’s dividend payout ratio is presently 29.69%.
In other Veritex news, insider Cara Mcdaniel bought 1,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of $17.64 per share, for a total transaction of $33,516.00. Following the completion of the purchase, the insider now directly owns 1,900 shares in the company, valued at $33,516. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jim Recer purchased 2,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $16.96 per share, with a total value of $33,920.00. Following the completion of the acquisition, the insider now directly owns 2,000 shares of the company’s stock, valued at $33,920. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,813 shares of company stock valued at $82,683. Corporate insiders own 5.33% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of Veritex in the 2nd quarter valued at $30,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Veritex by 51.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,142 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,406 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Veritex during the first quarter worth about $72,000. Bank of Montreal Can increased its position in shares of Veritex by 214.6% during the second quarter. Bank of Montreal Can now owns 6,235 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 4,253 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in shares of Veritex in the 2nd quarter valued at about $184,000. Institutional investors and hedge funds own 81.17% of the company’s stock.
Veritex Company Profile
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Veritex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritex and related companies with MarketBeat.com's FREE daily email newsletter.