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

Veritex Holdings, Inc. (NASDAQ:VBTX) – Research analysts at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for shares of Veritex in a report released on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $2.31 per share for the year, up from their previous estimate of $2.25. The consensus estimate for Veritex’s current full-year earnings is $2.22 per share.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $77.74 million for the quarter, compared to the consensus estimate of $110.67 million. Veritex had a net margin of 14.51% and a return on equity of 9.47%. Veritex’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share.

Several other equities analysts have also issued reports on the company. Stephens restated an “equal weight” rating and set a $24.00 price target on shares of Veritex in a research report on Monday, April 1st. Keefe, Bruyette & Woods reduced 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. Piper Sandler raised their price target on Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Veritex presently has a consensus rating of “Hold” and a consensus target price of $24.13.

Veritex Price Performance

Shares of Veritex stock opened at $20.02 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.11 and a beta of 1.34. The business’s 50-day moving average price is $19.85 and its 200-day moving average price is $20.21. Veritex has a 12 month low of $14.88 and a 12 month high of $24.46.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a $0.20 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.00%. Veritex’s dividend payout ratio is currently 40.40%.

Institutional Investors Weigh In On Veritex

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Veritex by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after buying an additional 52,933 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Veritex by 10.1% in the 4th quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock worth $12,734,000 after buying an additional 50,406 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in shares of Veritex in the 4th quarter worth approximately $8,144,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Veritex by 5.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,852 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 1,150 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Veritex in the 4th quarter valued at approximately $210,000. 88.31% of the stock is currently owned by institutional investors.

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.