Veritex (NASDAQ:VBTX) Issues Earnings Results

Veritex (NASDAQ:VBTX - Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.06), Briefing.com reports. The business had revenue of $191.25 million for the quarter, compared to analysts' expectations of $109.70 million. Veritex had a net margin of 14.51% and a return on equity of 9.47%. During the same period in the previous year, the business posted $0.79 earnings per share.

Veritex Price Performance

NASDAQ VBTX traded up $0.02 during trading hours on Wednesday, reaching $20.79. 618,472 shares of the stock traded hands, compared to its average volume of 428,053. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 10.50 and a beta of 1.34. The stock has a 50 day simple moving average of $19.87 and a two-hundred day simple moving average of $20.28. 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 has a 1 year low of $14.88 and a 1 year high of $24.46.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VBTX shares. Stephens reaffirmed an "equal weight" rating and set a $24.00 price target on shares of Veritex in a research report on Wednesday. StockNews.com lowered Veritex from a "hold" rating to a "sell" rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods reduced their price objective on Veritex from $29.00 to $27.00 and set an "outperform" rating for the company in a report on Thursday, January 25th. Finally, Piper Sandler raised their price target on Veritex from $23.50 to $25.00 and gave the stock an "overweight" rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $24.13.

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.