Veritex (NASDAQ:VBTX - Get Free Report) released its quarterly earnings results on Friday. The financial services provider reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.02, RTT News reports. Veritex had a net margin of 14.12% and a return on equity of 7.51%. The company had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same period in the previous year, the firm earned $0.52 EPS.
Veritex Stock Down 1.7%
Shares of NASDAQ VBTX traded down $0.55 during midday trading on Friday, reaching $32.25. The company's stock had a trading volume of 1,135,347 shares, compared to its average volume of 469,065. Veritex has a fifty-two week low of $20.10 and a fifty-two week high of $33.69. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $26.00 and a 200-day simple moving average of $25.18. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 15.36 and a beta of 1.03.
Veritex Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.73%. Veritex's dividend payout ratio (DPR) is presently 43.14%.
Wall Street Analyst Weigh In
VBTX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. William Blair raised shares of Veritex to an "outperform" rating in a research report on Monday, July 14th. Raymond James Financial downgraded shares of Veritex from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $31.00 to $28.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group started coverage on shares of Veritex in a research report on Monday, July 14th. They set a "buy" rating on the stock. Finally, Piper Sandler reissued a "neutral" rating and issued a $34.00 target price (up from $30.00) on shares of Veritex in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.92.
Get Our Latest Stock Report on Veritex
Institutional Investors Weigh In On Veritex
Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Veritex during the first quarter worth about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Veritex by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,225 shares of the financial services provider's stock valued at $780,000 after purchasing an additional 1,362 shares in the last quarter. Strs Ohio bought a new position in shares of Veritex in the 1st quarter worth $135,000. Intech Investment Management LLC lifted its holdings in shares of Veritex by 24.5% in the 1st quarter. Intech Investment Management LLC now owns 46,022 shares of the financial services provider's stock worth $1,149,000 after purchasing an additional 9,055 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Veritex by 451.0% in the 1st quarter. Jane Street Group LLC now owns 115,022 shares of the financial services provider's stock valued at $2,872,000 after buying an additional 94,148 shares during the last quarter. Institutional investors own 88.31% of the company's stock.
Veritex Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Veritex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veritex wasn't on the list.
While Veritex currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
