DA Davidson Equities Analysts Lift Earnings Estimates for Veritex Holdings, Inc. (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) - Analysts at DA Davidson boosted their FY2024 EPS estimates for shares of Veritex in a research report issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $2.31 per share for the year, up from their prior forecast of $2.25. The consensus estimate for Veritex's current full-year earnings is $2.22 per share.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm had revenue of $77.74 million during the quarter, compared to analysts' expectations of $110.67 million. During the same quarter last year, the business earned $0.74 earnings per share. The business's quarterly revenue was down 35.4% on a year-over-year basis.

Several other equities research analysts have also commented on VBTX. Piper Sandler boosted their target price on shares of Veritex from $23.50 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, January 25th. Stephens restated an "equal weight" rating and set a $24.00 target price on shares of Veritex in a research report on Monday, April 1st. StockNews.com lowered shares of Veritex from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.13.

Veritex Price Performance

Shares of NASDAQ VBTX traded up $0.70 during trading on Friday, hitting $20.02. 294,489 shares of the company were exchanged, compared to its average volume of 429,584. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 10.11 and a beta of 1.34. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The firm's fifty day moving average price is $19.85 and its 200 day moving average price is $20.21. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a yield of 4.00%. Veritex's dividend payout ratio (DPR) is 40.40%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings in Veritex by 2.1% in the 2nd quarter. LPL Financial LLC now owns 14,987 shares of the financial services provider's stock valued at $439,000 after purchasing an additional 313 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Veritex by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 48,088 shares of the financial services provider's stock valued at $1,836,000 after purchasing an additional 382 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Veritex by 19.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 559 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Veritex by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,801 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 635 shares in the last quarter. Finally, Lmcg Investments LLC lifted 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 in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

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.