Wall Street brokerages expect that Veritex Holdings Inc (NASDAQ:VBTX) will post $0.46 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Veritex’s earnings. Veritex posted earnings of $0.28 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 64.3%. The firm is expected to issue its next earnings results on Monday, October 22nd.
On average, analysts expect that Veritex will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.77 to $1.91. For the next financial year, analysts expect that the business will report earnings of $2.07 per share, with EPS estimates ranging from $1.61 to $2.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Veritex.
Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $30.22 million during the quarter, compared to the consensus estimate of $29.60 million. Veritex had a return on equity of 6.53% and a net margin of 23.09%.
A number of research firms have commented on VBTX. BidaskClub downgraded Veritex from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Zacks Investment Research downgraded Veritex from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $37.00 target price on shares of Veritex in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $34.00.
Veritex traded down $0.26, reaching $30.50, on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 206,705 shares, compared to its average volume of 283,881. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. Veritex has a 1 year low of $23.84 and a 1 year high of $33.08. The company has a market capitalization of $743.84 million, a P/E ratio of 22.78, a P/E/G ratio of 1.66 and a beta of 1.42.
In other Veritex news, CEO C Malcolm Holland III sold 3,750 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $30.95, for a total transaction of $116,062.50. Following the transaction, the chief executive officer now owns 96,002 shares of the company’s stock, valued at approximately $2,971,261.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC raised its position in shares of Veritex by 24.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 276,889 shares of the financial services provider’s stock worth $8,639,000 after purchasing an additional 54,953 shares during the period. Citadel Advisors LLC raised its position in shares of Veritex by 151.6% during the 2nd quarter. Citadel Advisors LLC now owns 32,972 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 19,866 shares during the period. Teton Advisors Inc. raised its position in shares of Veritex by 3.8% during the 2nd quarter. Teton Advisors Inc. now owns 96,400 shares of the financial services provider’s stock worth $2,995,000 after purchasing an additional 3,500 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Veritex by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 486,048 shares of the financial services provider’s stock worth $15,100,000 after purchasing an additional 18,591 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Veritex by 36.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 873,514 shares of the financial services provider’s stock worth $27,140,000 after purchasing an additional 233,746 shares during the period. Institutional investors and hedge funds own 70.02% of the company’s stock.
Veritex Company Profile
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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