Veritex (NASDAQ:VBTX) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Veritex (NASDAQ:VBTX) announced its earnings results on Tuesday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06), Briefing.com reports. The firm had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same period last year, the company earned $0.79 earnings per share.

Veritex Price Performance

NASDAQ VBTX traded down $0.06 during mid-day trading on Friday, hitting $20.34. The stock had a trading volume of 30,290 shares, compared to its average volume of 433,370. Veritex has a 52-week low of $14.88 and a 52-week high of $24.46. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 11.86 and a beta of 1.34. The company has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $20.28. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.21.

Veritex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s payout ratio is currently 46.51%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research report on Wednesday. Piper Sandler upped their target price on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reduced their price objective on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Veritex presently has a consensus rating of “Hold” and a consensus price target of $24.38.

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.