Veritex (NASDAQ:VBTX) Posts Earnings Results

Veritex (NASDAQ:VBTX) released its quarterly earnings results on Tuesday. The financial services provider reported $0.54 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 Price Performance

NASDAQ VBTX opened at $26.94 on Wednesday. The firm’s 50 day moving average is $28.01 and its 200-day moving average is $26.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a 12-month low of $18.08 and a 12-month high of $31.62. The company has a market capitalization of $1.47 billion, a PE ratio of 17.27 and a beta of 1.38.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.97%. Veritex’s dividend payout ratio is presently 51.28%.

Insider Transactions at Veritex

In other Veritex news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the sale, the director now directly owns 62,643 shares of the company’s stock, 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 available through this hyperlink. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VBTX shares. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. DA Davidson boosted their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.00.

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.