Q4 Earnings Forecast for Veritex Issued By DA Davidson

Veritex Holdings, Inc. (NASDAQ:VBTX) – Investment analysts at DA Davidson issued their Q4 2024 earnings estimates for Veritex in a research note issued to investors on Thursday, October 24th. DA Davidson analyst G. Tenner forecasts that the financial services provider will earn $0.56 per share for the quarter. DA Davidson has a “Buy” rating and a $33.00 price objective on the stock. The consensus estimate for Veritex’s current full-year earnings is $2.13 per share.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The business had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year.

VBTX has been the subject of a number of other reports. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Tuesday, September 17th. StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. 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. Piper Sandler increased their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $27.08 on Friday. The company has a 50-day simple moving average of $25.36 and a 200-day simple moving average of $22.62. Veritex has a one year low of $16.84 and a one year high of $28.46. 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 stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.74 and a beta of 1.37.

Institutional Trading of Veritex

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Veritex by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after purchasing an additional 23,222 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after acquiring an additional 299,562 shares during the last quarter. Victory Capital Management Inc. boosted its position in Veritex by 1.9% during the second quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock worth $41,518,000 after acquiring an additional 37,617 shares during the last quarter. Westwood Holdings Group Inc. boosted 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 acquiring an additional 235,154 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Veritex by 11.7% during the second quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock worth $17,446,000 after acquiring an additional 86,327 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. Veritex’s dividend payout ratio is presently 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.