Veritex Holdings, Inc. (NASDAQ:VBTX) to Post Q2 2024 Earnings of $0.51 Per Share, DA Davidson Forecasts

Veritex Holdings, Inc. (NASDAQ:VBTX) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for Veritex in a research report issued on Thursday, April 25th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $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 posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same period in the prior year, the company posted $0.79 EPS.

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

Veritex Trading Down 1.1 %

Shares of VBTX opened at $20.17 on Friday. The stock’s fifty day simple moving average is $19.86 and its 200-day simple moving average is $20.30. The firm has a market capitalization of $1.10 billion, a PE ratio of 11.73 and a beta of 1.34. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.21.

Veritex Announces Dividend

The company 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. This represents a $0.80 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s payout ratio is 46.51%.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently made changes to their positions in VBTX. SG Americas Securities LLC acquired a new stake in Veritex during the 3rd quarter worth $529,000. Sippican Capital Advisors raised its position in shares of Veritex by 247.7% during the third quarter. Sippican Capital Advisors now owns 70,215 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 50,023 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Veritex by 1,319.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,008 shares in the last quarter. Tieton Capital Management LLC grew its position in shares of Veritex by 37.1% in the 3rd quarter. Tieton Capital Management LLC now owns 196,797 shares of the financial services provider’s stock valued at $3,533,000 after purchasing an additional 53,298 shares during the period. Finally, Lmcg Investments LLC grew its position in shares of Veritex by 0.4% in the 3rd quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock valued at $2,687,000 after purchasing an additional 638 shares during the period. 88.31% of the stock is owned by institutional investors.

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.