Veritex Holdings, Inc. to Post FY2024 Earnings of $2.21 Per Share, DA Davidson Forecasts (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) - Equities researchers at DA Davidson lifted their FY2024 EPS estimates for Veritex in a report released on Thursday, August 29th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $2.21 per share for the year, up from their prior estimate of $2.19. DA Davidson currently has a "Buy" rating and a $29.00 target price on the stock. The consensus estimate for Veritex's current full-year earnings is $2.14 per share.

VBTX has been the subject of several other reports. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 29th. Stephens increased their price objective on shares of Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. Finally, Piper Sandler increased their price objective on shares of Veritex from $26.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Veritex Stock Up 0.4 %

NASDAQ:VBTX traded up $0.09 during mid-day trading on Monday, reaching $25.19. The company's stock had a trading volume of 377,300 shares, compared to its average volume of 303,260. Veritex has a 1 year low of $15.93 and a 1 year high of $25.84. The firm has a market capitalization of $1.37 billion, a PE ratio of 14.65 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $22.72 and a 200-day moving average of $21.02.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The business had revenue of $106.81 million during the quarter, compared to analysts' expectations of $108.39 million. During the same period last year, the company earned $0.64 earnings per share. The firm's revenue was down 6.7% compared to the same quarter last year.

Veritex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.18%. Veritex's payout ratio is 46.51%.

Institutional Investors Weigh In On Veritex

A number of hedge funds and other institutional investors have recently made changes to their positions in VBTX. Meeder Asset Management Inc. acquired a new stake in Veritex in the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Veritex during the first quarter worth about $29,000. Cape Investment Advisory Inc. acquired a new position in shares of Veritex during the fourth quarter worth about $52,000. CWM LLC grew its position in shares of Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider's stock worth $70,000 after buying an additional 3,101 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Veritex during the fourth quarter worth about $76,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Veritex Company Profile

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.