Zacks: Analysts Expect Veritex Holdings Inc (NASDAQ:VBTX) Will Post Earnings of $0.43 Per Share

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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.

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Earnings History and Estimates for Veritex (NASDAQ:VBTX)

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