Veritex (NASDAQ:VBTX) Announces Quarterly Earnings Results

Veritex (NASDAQ:VBTX) issued its quarterly earnings results 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 return on equity of 7.79% and a net margin of 11.11%.

Veritex Trading Down 0.7 %

NASDAQ VBTX opened at $26.75 on Thursday. The company has a fifty day moving average of $28.01 and a 200 day moving average of $26.33. The company has a market capitalization of $1.46 billion, a PE ratio of 17.15 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. Veritex has a 1 year low of $18.08 and a 1 year high of $31.62.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.99%. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction that occurred 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 approximately $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 can be accessed through this hyperlink. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VBTX. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective on the stock in a report on Thursday. 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 research note on Thursday, October 24th. Finally, Piper Sandler lifted their price objective on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Veritex currently has an average rating of “Moderate Buy” and an average price target of $30.30.

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.