Veritex (NASDAQ:VBTX) Announces Quarterly Earnings Results

Veritex (NASDAQ:VBTX) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06), Briefing.com reports. Veritex had a net margin of 14.51% and a return on equity of 9.47%. The business had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share.

Veritex Trading Up 2.3 %

Shares of VBTX stock opened at $20.77 on Wednesday. The business’s fifty day moving average price is $19.86 and its 200 day moving average price is $20.28. The firm has a market capitalization of $1.13 billion, a PE ratio of 10.49 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.96. Veritex has a 1-year low of $14.88 and a 1-year high of $24.46.

Analyst Upgrades and Downgrades

VBTX has been the topic of several recent research reports. Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Veritex in a research report on Monday, April 1st. Piper Sandler upped their price target on Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Finally, StockNews.com downgraded shares of Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.13.

About Veritex

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.