Veritex (NASDAQ:VBTX) Announces Earnings Results

Veritex (NASDAQ:VBTXGet Rating) released its earnings results on Tuesday. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13), Briefing.com reports. Veritex had a net margin of 33.87% and a return on equity of 10.70%. The business had revenue of $120.40 million during the quarter, compared to the consensus estimate of $121.22 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue was up 29.6% on a year-over-year basis.

Veritex Trading Down 8.6 %

Shares of NASDAQ:VBTX traded down $2.45 during midday trading on Wednesday, hitting $26.12. 105,666 shares of the stock were exchanged, compared to its average volume of 229,454. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 9.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50-day moving average price is $29.42 and its 200 day moving average price is $29.81. Veritex has a 12 month low of $26.02 and a 12 month high of $42.95.

Analyst Ratings Changes

VBTX has been the topic of a number of recent analyst reports. Piper Sandler decreased their target price on Veritex to $36.00 in a research report on Thursday, September 29th. Stephens lifted their target price on Veritex from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, October 27th. Raymond James cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, January 5th. Hovde Group reduced their price target on Veritex to $39.00 in a report on Wednesday, December 14th. Finally, StockNews.com cut Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.75.

Insider Activity at Veritex

In related news, Director Fallon William bought 2,000 shares of Veritex stock in a transaction that occurred on Tuesday, November 29th. The shares were acquired at an average cost of $32.14 per share, for a total transaction of $64,280.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $96,420. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.38% of the stock is currently owned by company insiders.

Institutional Trading of Veritex

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Veritex by 4.7% in the first quarter. BlackRock Inc. now owns 7,377,556 shares of the financial services provider’s stock valued at $281,602,000 after acquiring an additional 328,369 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Veritex by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,578,225 shares of the financial services provider’s stock valued at $95,145,000 after acquiring an additional 35,191 shares during the last quarter. State Street Corp lifted its stake in Veritex by 2.8% in the second quarter. State Street Corp now owns 2,657,735 shares of the financial services provider’s stock valued at $77,765,000 after buying an additional 72,485 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Veritex by 32.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,641,794 shares of the financial services provider’s stock valued at $77,299,000 after buying an additional 645,296 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Veritex by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 952,815 shares of the financial services provider’s stock valued at $36,370,000 after buying an additional 16,330 shares during the period. 85.86% of the stock is currently owned by institutional investors.

Veritex Company Profile

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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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.

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Earnings History for Veritex (NASDAQ:VBTX)

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