Veritex (VBTX) Set to Announce Earnings on Tuesday

by · The Markets Daily

Veritex (NASDAQ:VBTX – Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Veritex (NASDAQ:VBTX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The firm had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% 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 Price Performance

Shares of VBTX opened at $27.52 on Monday. The firm has a market capitalization of $1.50 billion, a PE ratio of 17.20 and a beta of 1.37. The stock’s 50 day moving average is $24.85 and its two-hundred day moving average is $22.40. Veritex has a twelve month low of $15.93 and a twelve month high of $28.09. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Friday, August 9th. Veritex’s dividend payout ratio is presently 50.00%.

Analysts Set New Price Targets

Several brokerages have commented on VBTX. DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. Stephens boosted their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Piper Sandler increased their target price on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Check Out Our Latest Stock Analysis on Veritex

Veritex Company Profile

(Get Free Report)

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.

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