Veritex (NASDAQ:VBTX) Announces Quarterly Earnings Results

Veritex (NASDAQ:VBTX - Get Free Report) announced its quarterly earnings data 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 Stock Performance

Shares of NASDAQ VBTX traded up $0.23 during mid-day trading on Tuesday, hitting $26.94. The company had a trading volume of 406,095 shares, compared to its average volume of 433,609. The stock's 50-day moving average price is $28.05 and its 200-day moving average price is $26.29. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 17.27 and a beta of 1.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a 1 year low of $18.08 and a 1 year high of $31.62.

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.97%. Veritex's dividend payout ratio is currently 51.28%.

Insiders Place Their Bets

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 shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the sale, the director now owns 62,643 shares of the company's stock, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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