Veritex Holdings, Inc. Expected to Earn FY2024 Earnings of $2.21 Per Share (NASDAQ:VBTX)

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

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

A number of other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Stephens increased their price target on shares of 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 lifted their price objective on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Veritex Stock Performance

NASDAQ:VBTX opened at $25.19 on Monday. Veritex has a twelve month low of $15.93 and a twelve month high of $25.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.37 billion, a P/E ratio of 14.65 and a beta of 1.37. The business’s 50-day moving average price is $22.82 and its two-hundred day moving average price is $21.05.

Veritex Announces Dividend

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 of this dividend was Friday, August 9th. Veritex’s dividend payout ratio is currently 46.51%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new position in shares of Veritex during the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC bought a new position in shares of Veritex during the first quarter valued at about $29,000. Cape Investment Advisory Inc. purchased a new position in shares of Veritex in the fourth quarter worth about $52,000. CWM LLC increased its holdings in shares of Veritex by 1,302.9% in the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after buying an additional 3,101 shares during the period. Finally, Quest Partners LLC purchased a new stake in Veritex during the 4th quarter valued at about $76,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

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.