Wall Street analysts predict that Veritex Holdings Inc (NASDAQ:VBTX) will announce $0.63 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Veritex’s earnings. The lowest EPS estimate is $0.59 and the highest is $0.66. Veritex reported earnings of $0.42 per share during the same quarter last year, which indicates a positive year over year growth rate of 50%. The firm is scheduled to report its next earnings report on Monday, July 22nd.
On average, analysts expect that Veritex will report full-year earnings of $2.53 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.59. For the next financial year, analysts forecast that the firm will report earnings of $2.68 per share, with EPS estimates ranging from $2.63 to $2.73. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Veritex.
Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Veritex had a return on equity of 9.11% and a net margin of 16.31%. The company had revenue of $81.40 million during the quarter, compared to analysts’ expectations of $78.50 million.
A number of equities research analysts recently weighed in on the company. ValuEngine upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. Zacks Investment Research lowered Veritex from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Stephens restated a “buy” rating and set a $32.00 price objective on shares of Veritex in a research report on Tuesday, April 23rd. Finally, BidaskClub upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.25.
In related news, Director Gordon Huddleston purchased 1,000 shares of Veritex stock in a transaction on Thursday, April 25th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $25,820.00. Following the transaction, the director now owns 8,223 shares of the company’s stock, valued at approximately $212,317.86. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark C. Griege purchased 25,000 shares of Veritex stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of $26.00 per share, for a total transaction of $650,000.00. Following the transaction, the director now directly owns 66,262 shares in the company, valued at approximately $1,722,812. The disclosure for this purchase can be found here. Insiders have purchased a total of 51,571 shares of company stock worth $1,336,096 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC grew its position in shares of Veritex by 55.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 17,161 shares of the financial services provider’s stock valued at $485,000 after buying an additional 6,100 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in shares of Veritex by 112.8% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,591,930 shares of the financial services provider’s stock valued at $34,035,000 after purchasing an additional 843,754 shares in the last quarter. BlackRock Inc. boosted its position in shares of Veritex by 102.0% during the 4th quarter. BlackRock Inc. now owns 3,449,209 shares of the financial services provider’s stock valued at $73,743,000 after purchasing an additional 1,741,453 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Veritex by 26.3% during the 3rd quarter. Renaissance Technologies LLC now owns 74,500 shares of the financial services provider’s stock valued at $2,105,000 after purchasing an additional 15,500 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Veritex during the 4th quarter valued at about $601,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.
Shares of Veritex stock traded down $0.14 during trading on Friday, reaching $26.09. 254,644 shares of the company’s stock were exchanged, compared to its average volume of 358,418. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.94 and a current ratio of 0.96. Veritex has a 1-year low of $20.34 and a 1-year high of $33.08. The stock has a market capitalization of $1.41 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.47 and a beta of 1.72.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.50 dividend on an annualized basis and a yield of 1.92%. Veritex’s dividend payout ratio is currently 27.17%.
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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