What is DA Davidson’s Forecast for Veritex FY2024 Earnings?

Veritex Holdings, Inc. (NASDAQ:VBTX) – DA Davidson upped their FY2024 earnings per share (EPS) estimates for shares of Veritex in a research note issued to investors on Thursday, October 24th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $2.19 per share for the year, up from their prior forecast of $2.18. DA Davidson currently has a “Buy” rating and a $33.00 price target on the stock. The consensus estimate for Veritex’s current full-year earnings is $2.14 per share. DA Davidson also issued estimates for Veritex’s FY2025 earnings at $2.24 EPS.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, September 17th. Stephens raised their price objective on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler raised their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Stock Down 1.7 %

VBTX opened at $27.32 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $25.54 and a 200-day simple moving average of $22.77. The stock has a market capitalization of $1.49 billion, a P/E ratio of 15.88 and a beta of 1.37. Veritex has a 12 month low of $16.93 and a 12 month high of $28.46.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s payout ratio is 46.51%.

Hedge Funds Weigh In On Veritex

Several hedge funds have recently bought and sold shares of VBTX. 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 period. Dimensional Fund Advisors LP grew its position in shares of Veritex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock valued at $51,566,000 after purchasing an additional 299,562 shares during the period. Victory Capital Management Inc. grew its position in shares of Veritex by 1.9% in the second quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock valued at $41,518,000 after purchasing an additional 37,617 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Veritex by 16.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after purchasing an additional 235,154 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Veritex by 11.7% in the second quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock valued at $17,446,000 after purchasing an additional 86,327 shares during the period. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.