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

Veritex (NASDAQ:VBTX) released 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 net margin of 11.11% and a return on equity of 7.79%.

Veritex Trading Down 0.7 %

Shares of VBTX opened at $26.75 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $28.01 and a 200 day moving average price of $26.33. Veritex has a 12-month low of $18.08 and a 12-month high of $31.62. The firm has a market capitalization of $1.46 billion, a P/E ratio of 17.15 and a beta of 1.38.

Veritex Announces Dividend

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

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

VBTX has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Hovde Group upgraded 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. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. DA Davidson raised their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their price target on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.