Veritex (NASDAQ:VBTX) Posts Earnings Results, Beats Expectations By $0.02 EPS

Veritex (NASDAQ:VBTX) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02, Fidelity Earnings reports. Veritex had a return on equity of 9.38% and a net margin of 30.32%. The business had revenue of $86.90 million for the quarter, compared to analysts’ expectations of $85.14 million. During the same period in the prior year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis.

Shares of NASDAQ VBTX opened at $38.64 on Thursday. The stock has a fifty day moving average price of $36.91 and a two-hundred day moving average price of $35.37. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market cap of $1.91 billion, a P/E ratio of 17.97 and a beta of 1.65. Veritex has a 1 year low of $18.08 and a 1 year high of $41.22.

In other Veritex news, Director Arcilia Acosta bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was acquired at an average price of $35.85 per share, with a total value of $537,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Malcolm Holland III sold 751 shares of the firm’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $35.00, for a total value of $26,285.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,250 shares of company stock valued at $745,454. 4.72% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Veritex stock. Morgan Stanley increased its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 42.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,203 shares of the financial services provider’s stock after acquiring an additional 53,916 shares during the period. Morgan Stanley owned about 0.37% of Veritex worth $6,451,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 83.63% of the company’s stock.

Several research firms recently commented on VBTX. Raymond James raised their target price on Veritex from $42.00 to $44.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 22nd. DA Davidson raised their target price on Veritex from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, September 22nd. Piper Sandler raised their target price on Veritex from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Zacks Investment Research upgraded Veritex from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, August 13th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $43.50.

Veritex Company Profile

Veritex Holdings, Inc engages in the provision of commercial banking products and services to small to medium-sized businesses and professionals. It offers personal and business banking products; mortgages; and treasury services. The company was founded by Charles Malcolm Holland III in June 2009 and is headquartered in Dallas, TX.

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Earnings History for Veritex (NASDAQ:VBTX)

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