Veritex (NASDAQ:VBTX) Announces Earnings Results, Beats Estimates By $0.04 EPS

Veritex (NASDAQ:VBTX) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04, Yahoo Finance reports. The company had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. Veritex’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS.

Veritex Trading Up 1.3 %

NASDAQ:VBTX opened at $27.34 on Wednesday. Veritex has a 52-week low of $15.93 and a 52-week high of $28.09. The stock’s 50 day moving average price is $25.06 and its 200 day moving average price is $22.50. The company has a market capitalization of $1.49 billion, a PE ratio of 17.09 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VBTX. DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. Stephens raised their price objective on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Piper Sandler increased their target price on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Raymond James raised 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, StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.