FY2024 Earnings Forecast for Veritex Holdings, Inc. (NASDAQ:VBTX) Issued By DA Davidson

Veritex Holdings, Inc. (NASDAQ:VBTX) – Stock analysts at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for shares of Veritex in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $2.18 for the year, down from their prior forecast of $2.21. DA Davidson currently has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for Veritex’s current full-year earnings is $2.13 per share.

Several other analysts also recently commented on the company. Piper Sandler increased their price objective on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Tuesday, September 17th. Finally, Stephens raised their price objective on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.00.

Veritex Price Performance

Shares of NASDAQ VBTX opened at $24.99 on Monday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 14.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Veritex has a fifty-two week low of $15.93 and a fifty-two week high of $26.72. The firm’s 50-day simple moving average is $24.22 and its 200 day simple moving average is $21.99.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $106.81 million during the quarter, compared to the consensus estimate of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share.

Institutional Investors Weigh In On Veritex

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Veritex by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after buying an additional 23,222 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Veritex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock valued at $51,566,000 after purchasing an additional 299,562 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Veritex by 1.9% during the second quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock valued at $41,518,000 after purchasing an additional 37,617 shares during the period. Westwood Holdings Group Inc. grew its holdings in Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after purchasing an additional 235,154 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Veritex by 23.2% in the fourth quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock valued at $30,322,000 after buying an additional 245,133 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 annualized dividend and a yield of 3.20%. Veritex’s dividend payout ratio is currently 46.51%.

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.