Veritex Holdings, Inc. (NASDAQ:VBTX) to Post Q2 2024 Earnings of $0.51 Per Share, DA Davidson Forecasts

Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Veritex in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings per share of $0.51 for the quarter. The consensus estimate for Veritex's current full-year earnings is $2.24 per share.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same quarter in the prior year, the company earned $0.79 EPS.

A number of other analysts have also recently weighed in on VBTX. Keefe, Bruyette & Woods decreased their price target on shares of Veritex from $29.00 to $27.00 and set an "outperform" rating for the company in a research note on Thursday, January 25th. Stephens reiterated an "equal weight" rating and set a $24.00 target price on shares of Veritex in a research note on Wednesday. StockNews.com raised Veritex from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Piper Sandler boosted their price target on Veritex from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $24.38.

Veritex Stock Performance

Shares of VBTX stock traded down $0.23 during trading hours on Friday, hitting $20.17. The stock had a trading volume of 431,677 shares, compared to its average volume of 438,417. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $1.10 billion, a PE ratio of 11.73 and a beta of 1.34. The stock's 50 day moving average is $19.86 and its 200 day moving average is $20.30. Veritex has a twelve month low of $14.88 and a twelve month high of $24.46.

Institutional Trading of Veritex

Institutional investors have recently modified their holdings of the business. Ziegler Capital Management LLC purchased a new stake in Veritex during the fourth quarter worth about $3,443,000. Assenagon Asset Management S.A. purchased a new stake in shares of Veritex during the 3rd quarter worth approximately $1,012,000. Victory Capital Management Inc. grew its holdings in shares of Veritex by 33.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider's stock worth $30,916,000 after acquiring an additional 427,922 shares during the period. AQR Capital Management LLC increased its stake in Veritex by 334.0% in the 3rd quarter. AQR Capital Management LLC now owns 242,809 shares of the financial services provider's stock valued at $4,358,000 after purchasing an additional 186,857 shares in the last quarter. Finally, Vest Financial LLC purchased a new position in Veritex in the 4th quarter valued at approximately $240,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Dividend Announcement

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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend 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.