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.
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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