DA Davidson Weighs in on Veritex Holdings, Inc.’s FY2024 Earnings (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX) – Equities researchers at DA Davidson cut their FY2024 earnings per share estimates for shares of Veritex in a research note issued to investors on Thursday, April 25th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $2.24 per share for the year, down from their previous estimate of $2.31. The consensus estimate for Veritex’s current full-year earnings is $2.19 per share. DA Davidson also issued estimates for Veritex’s FY2025 earnings at $2.38 EPS.

Several other equities research analysts have also recently commented on the company. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research note on Wednesday, April 24th. StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Sandler boosted their price target on Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.38.

Veritex Trading Down 1.1 %

NASDAQ VBTX opened at $20.17 on Monday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 11.73 and a beta of 1.34. The stock’s 50 day moving average price is $19.86 and its two-hundred day moving average price is $20.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.96 and a current ratio of 0.96. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $191.25 million during the quarter, compared to the consensus estimate of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same quarter in the previous year, the firm posted $0.79 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VBTX. SG Americas Securities LLC acquired a new position in shares of Veritex during the 3rd quarter worth approximately $529,000. Sippican Capital Advisors increased its holdings in shares of Veritex by 247.7% during the 3rd quarter. Sippican Capital Advisors now owns 70,215 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 50,023 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Veritex by 1,319.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 3,008 shares during the last quarter. Tieton Capital Management LLC increased its holdings in shares of Veritex by 37.1% during the 3rd quarter. Tieton Capital Management LLC now owns 196,797 shares of the financial services provider’s stock worth $3,533,000 after acquiring an additional 53,298 shares during the last quarter. Finally, Lmcg Investments LLC increased its holdings in shares of Veritex by 0.4% during the 3rd quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock worth $2,687,000 after acquiring an additional 638 shares during the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s dividend payout ratio (DPR) is 46.51%.

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.