Veritex (NASDAQ:VBTX) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Veritex (NASDAQ:VBTX) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02), Zacks reports. Veritex had a net margin of 11.11% and a return on equity of 7.79%.

Veritex Trading Up 0.9 %

Veritex stock traded up $0.23 during trading hours on Tuesday, reaching $26.94. 406,295 shares of the company’s stock traded hands, compared to its average volume of 433,609. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 17.27 and a beta of 1.38. The firm’s 50 day moving average is $28.05 and its 200-day moving average is $26.29. Veritex has a fifty-two week low of $18.08 and a fifty-two week high of $31.62.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.97%. Veritex’s payout ratio is 51.28%.

Insider Activity at Veritex

In other news, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VBTX has been the topic of several analyst reports. Piper Sandler upped their target price on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. DA Davidson upped their price objective on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Veritex currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.