Veritex (NASDAQ:VBTX) Posts Earnings Results, Beats Estimates By $0.04 EPS

Veritex (NASDAQ:VBTX) released its earnings results on Tuesday. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04, Yahoo Finance reports. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year.

Veritex Trading Up 2.0 %

Shares of VBTX stock opened at $27.88 on Thursday. The business’s 50 day moving average is $25.18 and its two-hundred day moving average is $22.54. Veritex has a twelve month low of $15.93 and a twelve month high of $28.46. The company has a market capitalization of $1.52 billion, a P/E ratio of 17.87 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.87%. Veritex’s dividend payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. DA Davidson reissued a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stephens raised their target price on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Veritex presently has an average rating of “Moderate Buy” and an average target price of $28.00.

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.