DA Davidson Comments on Veritex Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Veritex in a note issued to investors on Thursday, April 25th. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings of $0.51 per share for the quarter. The consensus estimate for Veritex’s current full-year earnings is $2.24 per share.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The business had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same quarter last year, the firm posted $0.79 earnings per share.

Several other equities analysts have also weighed in on the company. Piper Sandler lifted their price objective on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Stephens reaffirmed an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a research note on Wednesday. Finally, StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Veritex has an average rating of “Hold” and a consensus price target of $24.38.

Veritex Trading Down 1.1 %

Shares of VBTX opened at $20.17 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.10 billion, a P/E ratio of 11.73 and a beta of 1.34. The stock’s fifty day simple moving average is $19.86 and its 200 day simple moving average is $20.31. Veritex has a twelve month low of $14.88 and a twelve month high of $24.46.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.97%. Veritex’s payout ratio is currently 46.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VBTX. SG Americas Securities LLC bought a new position in Veritex during the 3rd quarter worth $529,000. Sippican Capital Advisors grew its stake in Veritex by 247.7% during the 3rd quarter. Sippican Capital Advisors now owns 70,215 shares of the financial services provider’s stock worth $1,260,000 after buying an additional 50,023 shares during the last quarter. Fifth Third Bancorp grew its stake in Veritex by 1,319.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,008 shares during the last quarter. Tieton Capital Management LLC grew its stake in Veritex by 37.1% during the 3rd quarter. Tieton Capital Management LLC now owns 196,797 shares of the financial services provider’s stock worth $3,533,000 after buying an additional 53,298 shares during the last quarter. Finally, Lmcg Investments LLC boosted its position in Veritex by 0.4% during the 3rd quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock worth $2,687,000 after acquiring an additional 638 shares during the period. 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.