Veritex (VBTX) Scheduled to Post Quarterly Earnings on Tuesday

Veritex (NASDAQ:VBTX) will be releasing its earnings data after the market closes on Tuesday, October 26th. Analysts expect Veritex to post earnings of $0.69 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, July 27th. The financial services provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). The company had revenue of $79.59 million during the quarter, compared to the consensus estimate of $77.55 million. Veritex had a net margin of 30.32% and a return on equity of 9.38%. On average, analysts expect Veritex to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of NASDAQ:VBTX opened at $40.56 on Friday. Veritex has a 52-week low of $18.08 and a 52-week high of $41.22. The company has a market capitalization of $2.01 billion, a PE ratio of 18.87 and a beta of 1.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.06. The company has a fifty day moving average of $36.91 and a 200-day moving average of $35.37.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Shareholders of record on Thursday, August 5th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, August 4th. This is a boost from Veritex’s previous quarterly dividend of $0.17. Veritex’s dividend payout ratio is presently 51.28%.

VBTX has been the topic of several research reports. Zacks Investment Research raised Veritex from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, August 13th. DA Davidson upped their price target on shares of Veritex from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, September 22nd. Piper Sandler lifted their target price on shares of Veritex from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 22nd. Finally, Raymond James boosted their price target on Veritex from $42.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 22nd. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Veritex currently has a consensus rating of “Buy” and a consensus target price of $42.50.

In related news, CEO C Malcolm Holland III sold 751 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $35.00, for a total value of $26,285.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manuel J. Mehos sold 15,000 shares of Veritex stock in a transaction that occurred on Thursday, August 12th. The stock was sold at an average price of $35.11, for a total value of $526,650.00. Following the completion of the transaction, the director now directly owns 385,363 shares in the company, valued at $13,530,094.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,250 shares of company stock valued at $745,454. 4.72% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Veritex stock. Morgan Stanley increased its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 42.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,203 shares of the financial services provider’s stock after purchasing an additional 53,916 shares during the period. Morgan Stanley owned 0.37% of Veritex worth $6,451,000 at the end of the most recent reporting period. Institutional investors own 83.63% of the company’s stock.

About Veritex

Veritex Holdings, Inc engages in the provision of commercial banking products and services to small to medium-sized businesses and professionals. It offers personal and business banking products; mortgages; and treasury services. The company was founded by Charles Malcolm Holland III in June 2009 and is headquartered in Dallas, TX.

See Also: Quick Ratio

Earnings History for Veritex (NASDAQ:VBTX)

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