Veritex (NASDAQ:VBTX) Announces Quarterly Earnings Results

Veritex (NASDAQ:VBTX - Get Free Report) released its earnings results on Tuesday. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03, Zacks reports. The firm had revenue of $109.73 million during the quarter, compared to analysts' expectations of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same period in the previous year, the company earned $0.53 EPS.

Veritex Stock Up 0.7 %

NASDAQ:VBTX traded up $0.17 during trading hours on Friday, hitting $23.30. The stock had a trading volume of 422,739 shares, compared to its average volume of 393,299. The company has a market cap of $1.27 billion, a PE ratio of 11.95 and a beta of 1.11. The business has a 50 day simple moving average of $23.81 and a two-hundred day simple moving average of $26.42. Veritex has a 1-year low of $18.74 and a 1-year high of $31.62. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

Veritex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be issued a dividend of $0.22 per share. This is an increase from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, May 8th. Veritex's dividend payout ratio (DPR) is presently 41.03%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VBTX. Stephens restated an "equal weight" rating and set a $30.00 price objective on shares of Veritex in a report on Wednesday. Raymond James cut Veritex from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday. DA Davidson decreased their target price on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price target for the company in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Veritex currently has an average rating of "Moderate Buy" and a consensus price target of $30.25.

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.