DA Davidson Brokers Cut Earnings Estimates for Veritex Holdings, Inc. (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX) – Investment analysts at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for Veritex in a research note issued to investors on Thursday, April 25th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $2.24 per share for the year, down from their previous forecast of $2.31. The consensus estimate for Veritex’s current full-year earnings is $2.19 per share. DA Davidson also issued estimates for Veritex’s FY2025 earnings at $2.38 EPS.

A number of other brokerages also recently commented on VBTX. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a report on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Finally, Piper Sandler raised their price target on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Veritex has a consensus rating of “Hold” and a consensus price target of $24.38.

Veritex Stock Down 2.1 %

Shares of VBTX opened at $19.48 on Monday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 11.33 and a beta of 1.34. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46. The firm has a fifty day moving average price of $19.82 and a 200-day moving average price of $20.33. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.21.

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

Institutional Trading of Veritex

A number of institutional investors have recently modified their holdings of the company. Lmcg Investments LLC grew its holdings in Veritex by 0.4% in the third quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock worth $2,687,000 after purchasing an additional 638 shares during the last quarter. Dark Forest Capital Management LP increased its position in Veritex by 6.3% during the 3rd quarter. Dark Forest Capital Management LP now owns 21,306 shares of the financial services provider’s stock valued at $382,000 after buying an additional 1,263 shares in the last quarter. Swiss National Bank raised its stake in Veritex by 1.1% in the third quarter. Swiss National Bank now owns 119,217 shares of the financial services provider’s stock valued at $2,140,000 after buying an additional 1,300 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Veritex by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 117,957 shares of the financial services provider’s stock worth $2,117,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Veritex during the fourth quarter worth about $52,000. 88.31% of the stock is currently owned by institutional investors.

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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, May 9th. Veritex’s payout ratio is currently 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.