Analysts Issue Forecasts for Veritex Holdings, Inc.’s FY2024 Earnings (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX) – Investment analysts at DA Davidson dropped their FY2024 earnings per share estimates for Veritex in a report issued on Thursday, April 25th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $2.24 per share for the year, down from their prior estimate of $2.31. The consensus estimate for Veritex’s current full-year earnings is $2.19 per share. DA Davidson also issued estimates for Veritex’s FY2025 earnings at $2.38 EPS.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company 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 last year, the firm earned $0.79 EPS.

VBTX has been the topic of a number of other reports. Piper Sandler upped their target price on shares of Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. Finally, Stephens reaffirmed an “equal weight” rating and set a $24.00 price target on shares of Veritex in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veritex currently has an average rating of “Hold” and a consensus target price of $24.38.

Veritex Stock Performance

NASDAQ VBTX opened at $19.48 on Monday. The firm’s fifty day moving average price is $19.82 and its two-hundred day moving average price is $20.33. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The firm has a market capitalization of $1.06 billion, a P/E ratio of 11.33 and a beta of 1.34. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Veritex

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Veritex during the 3rd quarter worth $529,000. Sippican Capital Advisors increased its position in 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 acquiring an additional 50,023 shares during the period. Fifth Third Bancorp raised its stake in Veritex by 1,319.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 3,008 shares in the last quarter. Tieton Capital Management LLC raised its stake in Veritex by 37.1% in the 3rd quarter. Tieton Capital Management LLC now owns 196,797 shares of the financial services provider’s stock worth $3,533,000 after purchasing an additional 53,298 shares in the last quarter. Finally, Lmcg Investments LLC boosted its holdings in 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. Institutional investors own 88.31% of the company’s stock.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Thursday, May 9th. Veritex’s payout ratio is 46.51%.

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.