Veritex (NASDAQ:VBTX) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Veritex (NASDAQ:VBTX) released its quarterly earnings data on Tuesday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06), Briefing.com reports. The business had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a return on equity of 9.47% and a net margin of 14.51%. During the same period in the prior year, the company posted $0.79 earnings per share.

Veritex Price Performance

Shares of NASDAQ VBTX traded down $0.39 during trading on Wednesday, hitting $20.38. The company had a trading volume of 180,077 shares, compared to its average volume of 421,718. The company has a market cap of $1.11 billion, a P/E ratio of 10.31 and a beta of 1.34. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46. The business’s 50-day moving average is $19.86 and its 200 day moving average is $20.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97.

Wall Street Analysts Forecast Growth

VBTX has been the subject of a number of research analyst reports. Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research report on Monday, April 1st. Keefe, Bruyette & Woods cut their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler raised their price objective on Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.13.

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.