FY2024 EPS Estimates for Veritex Holdings, Inc. (NASDAQ:VBTX) Boosted by DA Davidson

Veritex Holdings, Inc. (NASDAQ:VBTX) – Investment analysts at DA Davidson raised their FY2024 earnings per share estimates for shares of Veritex in a research report issued to clients and investors on Thursday, August 29th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $2.21 for the year, up from their previous forecast of $2.19. DA Davidson currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for Veritex’s current full-year earnings is $2.14 per share.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The company had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Veritex’s quarterly revenue was down 6.7% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Stephens increased their price target on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Piper Sandler raised their price target on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veritex currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Veritex Stock Up 0.4 %

Shares of NASDAQ:VBTX opened at $25.19 on Monday. The company has a 50 day moving average price of $22.72 and a two-hundred day moving average price of $21.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.37 billion, a PE ratio of 14.65 and a beta of 1.38. Veritex has a 52 week low of $15.93 and a 52 week high of $25.84.

Hedge Funds Weigh In On Veritex

A number of large investors have recently bought and sold shares of VBTX. Charles Schwab Investment Management Inc. grew its stake in shares of Veritex by 12.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock valued at $15,067,000 after buying an additional 73,700 shares in the last quarter. 1492 Capital Management LLC raised its holdings in shares of Veritex by 152.9% in the 4th quarter. 1492 Capital Management LLC now owns 208,264 shares of the financial services provider’s stock valued at $4,846,000 after purchasing an additional 125,912 shares during the period. Hsbc Holdings PLC lifted its stake in Veritex by 767.5% in the 4th quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock valued at $6,548,000 after purchasing an additional 245,106 shares during the last quarter. Vanguard Group Inc. grew its holdings in Veritex by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after purchasing an additional 52,933 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after buying an additional 235,154 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, August 9th. Veritex’s payout ratio is 46.51%.

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.