Veritex Holdings, Inc. (NASDAQ:VBTX – Get Rating) – DA Davidson boosted their FY2022 earnings per share estimates for Veritex in a report issued on Thursday, September 8th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $3.01 per share for the year, up from their prior forecast of $2.96. The consensus estimate for Veritex's current full-year earnings is $2.87 per share. DA Davidson also issued estimates for Veritex's FY2023 earnings at $3.87 EPS.
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A number of other equities research analysts have also recently issued reports on VBTX. Stephens cut shares of Veritex from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $36.00 to $32.00 in a report on Wednesday, September 7th. Piper Sandler decreased their price target on shares of Veritex to $39.00 in a research note on Monday, July 4th. Raymond James cut their price target on shares of Veritex from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, StockNews.com cut shares of Veritex from a "hold" rating to a "sell" rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Veritex presently has a consensus rating of "Hold" and an average price target of $37.75.
Veritex Stock Down 4.1 %
VBTX stock opened at $28.99 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.86. The business's 50-day simple moving average is $30.72 and its 200 day simple moving average is $33.42. The company has a market cap of $1.56 billion, a PE ratio of 10.58 and a beta of 1.45. Veritex has a twelve month low of $26.85 and a twelve month high of $45.36.
Veritex (NASDAQ:VBTX – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.14). Veritex had a net margin of 35.73% and a return on equity of 10.32%. The firm had revenue of $94.86 million for the quarter, compared to analyst estimates of $98.34 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year.
Veritex Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, August 11th. Veritex's dividend payout ratio (DPR) is presently 29.20%.
Insiders Place Their Bets
In other news, CFO Terry Earley bought 1,180 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average cost of $30.50 per share, for a total transaction of $35,990.00. Following the purchase, the chief financial officer now directly owns 7,980 shares in the company, valued at approximately $243,390. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.38% of the stock is owned by insiders.
Institutional Trading of Veritex
Several hedge funds have recently made changes to their positions in VBTX. Assetmark Inc. increased its holdings in shares of Veritex by 610.0% in the 2nd quarter. Assetmark Inc. now owns 1,065 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 915 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Veritex during the 1st quarter worth $33,000. Private Capital Group LLC grew its stake in shares of Veritex by 122.1% during the 2nd quarter. Private Capital Group LLC now owns 1,288 shares of the financial services provider's stock worth $38,000 after purchasing an additional 708 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Veritex during the 1st quarter worth $41,000. Finally, KBC Group NV grew its stake in shares of Veritex by 30.5% during the 2nd quarter. KBC Group NV now owns 3,988 shares of the financial services provider's stock worth $117,000 after purchasing an additional 931 shares during the period. Institutional investors and hedge funds own 89.32% of the company's stock.
About Veritex
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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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.
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