Veritex (VBTX) Scheduled to Post Quarterly Earnings on Tuesday

Veritex (NASDAQ:VBTX) will issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect Veritex to post earnings of $0.59 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm had revenue of $77.74 million during the quarter, compared to analyst estimates of $110.67 million. During the same quarter in the previous year, the business earned $0.74 EPS. Veritex’s revenue for the quarter was down 35.4% on a year-over-year basis. On average, analysts expect Veritex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Veritex Price Performance

Veritex stock opened at $19.44 on Tuesday. The business has a fifty day moving average of $19.89 and a two-hundred day moving average of $20.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market cap of $1.06 billion, a P/E ratio of 9.82 and a beta of 1.34. Veritex has a one year low of $14.88 and a one year high of $24.46.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Thursday, February 8th. Veritex’s dividend payout ratio is currently 40.40%.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VBTX. Vanguard Group Inc. grew its position in Veritex by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,365,162 shares of the financial services provider’s stock worth $128,448,000 after acquiring an additional 178,482 shares in the last quarter. Sei Investments Co. increased its position in shares of Veritex by 26.6% during the first quarter. Sei Investments Co. now owns 497,776 shares of the financial services provider’s stock valued at $19,001,000 after purchasing an additional 104,687 shares during the period. Dimensional Fund Advisors LP increased its holdings in Veritex by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 952,815 shares of the financial services provider’s stock valued at $36,370,000 after buying an additional 16,330 shares during the period. Yousif Capital Management LLC boosted its holdings in Veritex by 0.8% during the first quarter. Yousif Capital Management LLC now owns 48,088 shares of the financial services provider’s stock valued at $1,836,000 after purchasing an additional 382 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Veritex by 4.7% in the 1st quarter. BlackRock Inc. now owns 7,377,556 shares of the financial services provider’s stock valued at $281,602,000 after buying an additional 328,369 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VBTX. Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Veritex in a report on Monday, April 1st. Keefe, Bruyette & Woods cut their price target on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. Piper Sandler raised their target price on Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veritex currently has a consensus rating of “Hold” and a consensus target price of $24.13.

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.