Veritex (NASDAQ:VBTX) Posts Earnings Results

Veritex (NASDAQ:VBTX) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04, Yahoo Finance reports. The business had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.88% and a net margin of 11.11%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $27.88 on Thursday. The company has a market cap of $1.52 billion, a PE ratio of 17.87 and a beta of 1.37. Veritex has a fifty-two week low of $15.93 and a fifty-two week high of $28.46. The firm has a 50-day simple moving average of $25.18 and a 200 day simple moving average of $22.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

Several brokerages have recently weighed in on VBTX. Piper Sandler upped their target price on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Stephens boosted their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. DA Davidson restated a “buy” rating and issued a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, September 17th. Finally, StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.