Veritex (NASDAQ:VBTX) Issues Earnings Results

Veritex (NASDAQ:VBTX - Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03, Zacks reports. Veritex had a net margin of 13.44% and a return on equity of 7.59%. The firm had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the firm earned $0.53 EPS.

Veritex Trading Up 1.4 %

Shares of NASDAQ VBTX traded up $0.34 during mid-day trading on Friday, hitting $23.47. The company's stock had a trading volume of 139,545 shares, compared to its average volume of 395,848. Veritex has a one year low of $18.74 and a one year high of $31.62. The company's fifty day simple moving average is $23.87 and its 200-day simple moving average is $26.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 12.01 and a beta of 1.11.

Veritex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.22 per share. This is a boost from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, May 8th. Veritex's payout ratio is currently 41.03%.

Wall Street Analyst Weigh In

A number of analysts have commented on VBTX shares. Stephens reiterated an "equal weight" rating and issued a $30.00 price objective on shares of Veritex in a research report on Wednesday. DA Davidson lowered their price target on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday. Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective for the company in a report on Thursday, January 30th. Raymond James lowered shares of Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.25.

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.