Veritex (VBTX) Set to Announce Earnings on Tuesday

Veritex (NASDAQ:VBTX) will be announcing its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm had revenue of $77.74 million during the quarter, compared to the consensus estimate of $110.67 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was down 35.4% on a year-over-year basis. On average, analysts expect Veritex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Veritex Trading Up 3.6 %

NASDAQ:VBTX opened at $20.02 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.11 and a beta of 1.34. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $19.85 and a 200 day moving average of $20.23.

Veritex Dividend Announcement

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

Institutional Trading of Veritex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Veritex in the fourth quarter worth about $210,000. Numerai GP LLC purchased a new stake in Veritex in the 4th quarter worth approximately $203,000. Captrust Financial Advisors grew its stake in shares of Veritex by 51.8% during the 1st quarter. Captrust Financial Advisors now owns 4,684 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 1,598 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Veritex by 157.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,972 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 5,490 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Veritex by 29.6% during the 2nd quarter. Osaic Holdings Inc. now owns 7,483 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 1,709 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VBTX. Keefe, Bruyette & Woods dropped their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Piper Sandler boosted their target price on shares of Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, Stephens reiterated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.13.

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.