Equities analysts expect Veritex Holdings Inc (NASDAQ:VBTX) to report $71.50 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Veritex's earnings. The lowest sales estimate is $70.70 million and the highest is $72.30 million. Veritex reported sales of $79.30 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.8%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, October 27th.
According to Zacks, analysts expect that Veritex will report full-year sales of $303.35 million for the current year, with estimates ranging from $302.10 million to $304.60 million. For the next year, analysts expect that the firm will post sales of $291.30 million, with estimates ranging from $284.20 million to $298.40 million. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that follow Veritex.
Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.43 EPS for the quarter, beating the Zacks' consensus estimate of $0.41 by $0.02. Veritex had a net margin of 21.27% and a return on equity of 7.16%. The firm had revenue of $87.05 million for the quarter, compared to the consensus estimate of $76.10 million.
A number of research firms have commented on VBTX. Raymond James reiterated a "buy" rating on shares of Veritex in a research note on Monday, September 28th. BidaskClub upgraded shares of Veritex from a "hold" rating to a "buy" rating in a research note on Friday, October 9th. Piper Sandler reduced their price target on shares of Veritex from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Finally, Zacks Investment Research upgraded shares of Veritex from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of "Buy" and an average price target of $27.50.
NASDAQ VBTX opened at $20.25 on Monday. Veritex has a 12 month low of $10.02 and a 12 month high of $29.41. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 12.42 and a beta of 1.87. The company's fifty day moving average price is $18.01 and its two-hundred day moving average price is $16.89.
In related news, insider Jeff Kesler sold 10,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jim Recer acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $16.96 per share, for a total transaction of $33,920.00. Following the acquisition, the insider now owns 2,000 shares in the company, valued at $33,920. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 6,813 shares of company stock worth $118,383. Corporate insiders own 5.33% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in Veritex by 810.2% during the 1st quarter. Invesco Ltd. now owns 646,257 shares of the financial services provider's stock valued at $9,029,000 after buying an additional 575,253 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Veritex by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 311,947 shares of the financial services provider's stock valued at $5,522,000 after buying an additional 11,507 shares during the period. Geode Capital Management LLC increased its stake in Veritex by 6.8% during the 1st quarter. Geode Capital Management LLC now owns 722,995 shares of the financial services provider's stock valued at $10,100,000 after buying an additional 46,018 shares during the period. Comerica Bank increased its stake in Veritex by 4.7% during the 2nd quarter. Comerica Bank now owns 141,658 shares of the financial services provider's stock valued at $2,333,000 after buying an additional 6,355 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Veritex by 4.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,024,745 shares of the financial services provider's stock valued at $18,138,000 after buying an additional 44,095 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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