FY2024 Earnings Forecast for Veritex Issued By DA Davidson

Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) - DA Davidson boosted their FY2024 earnings per share estimates for Veritex in a research note issued on Thursday, October 24th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $2.19 per share for the year, up from their prior forecast of $2.18. DA Davidson currently has a "Buy" rating and a $33.00 price target on the stock. The consensus estimate for Veritex's current full-year earnings is $2.14 per share. DA Davidson also issued estimates for Veritex's FY2025 earnings at $2.24 EPS.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. During the same period last year, the firm earned $0.60 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year.

VBTX has been the subject of several other reports. Keefe, Bruyette & Woods lowered shares of Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday. StockNews.com cut shares of Veritex from a "hold" rating to a "sell" rating in a report on Tuesday, October 22nd. Piper Sandler increased their target price on shares of Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday. Stephens lifted their price target on Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. Finally, Raymond James upgraded Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.40.

Veritex Stock Performance

VBTX stock traded up $0.70 during trading on Monday, hitting $27.78. 420,549 shares of the company traded hands, compared to its average volume of 403,007. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. Veritex has a 1 year low of $16.93 and a 1 year high of $28.46. The stock's 50-day simple moving average is $25.36 and its 200 day simple moving average is $22.65. The company has a market cap of $1.51 billion, a PE ratio of 15.99 and a beta of 1.37.

Veritex Announces Dividend

The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, November 8th. Veritex's dividend payout ratio is presently 46.51%.

Institutional Investors Weigh In On Veritex

Several institutional investors have recently bought and sold shares of VBTX. Sippican Capital Advisors boosted its stake in Veritex by 0.4% during the 3rd quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider's stock worth $2,612,000 after purchasing an additional 400 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Veritex by 67.6% during the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider's stock worth $21,248,000 after acquiring an additional 325,569 shares during the last quarter. Raymond James & Associates purchased a new stake in Veritex during the 3rd quarter valued at about $3,971,000. Vontobel Holding Ltd. acquired a new stake in Veritex in the 3rd quarter valued at about $240,000. Finally, CWM LLC lifted its stake in Veritex by 163.8% in the 3rd quarter. CWM LLC now owns 8,808 shares of the financial services provider's stock worth $232,000 after purchasing an additional 5,469 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

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.