FY2024 EPS Estimates for Veritex Holdings, Inc. (NASDAQ:VBTX) Boosted by DA Davidson

Veritex Holdings, Inc. (NASDAQ:VBTX) – Research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Veritex in a report released on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $2.31 per share for the year, up from their prior estimate of $2.25. The consensus estimate for Veritex’s current full-year earnings is $2.22 per share.

A number of other research firms have also recently weighed in on VBTX. Piper Sandler boosted their price target on Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Finally, Stephens reiterated an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.13.

Veritex Stock Performance

NASDAQ VBTX opened at $19.32 on Friday. Veritex has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 9.76 and a beta of 1.34. The business has a fifty day moving average of $19.86 and a 200-day moving average of $20.19. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Veritex (NASDAQ:VBTX) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Veritex had a return on equity of 9.47% and a net margin of 14.51%. The firm had revenue of $77.74 million for the quarter, compared to analysts’ expectations of $110.67 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down 35.4% compared to the same quarter last year.

Institutional Investors Weigh In On Veritex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in Veritex by 2.1% during the second quarter. LPL Financial LLC now owns 14,987 shares of the financial services provider’s stock worth $439,000 after acquiring an additional 313 shares during the last quarter. Yousif Capital Management LLC increased its stake in Veritex by 0.8% during the first quarter. Yousif Capital Management LLC now owns 48,088 shares of the financial services provider’s stock worth $1,836,000 after acquiring an additional 382 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Veritex by 19.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 559 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Veritex by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,801 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 635 shares during the last quarter. Finally, Lmcg Investments LLC increased its stake in Veritex by 0.4% during the third quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock worth $2,687,000 after acquiring an additional 638 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.80 annualized dividend and a yield of 4.14%. Veritex’s dividend payout ratio is presently 40.40%.

About Veritex

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.