Veritex (VBTX) Set to Announce Earnings on Tuesday

Veritex (NASDAQ:VBTX) will be issuing its quarterly earnings data after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, analysts expect Veritex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $27.52 on Monday. The company has a market cap of $1.50 billion, a P/E ratio of 17.20 and a beta of 1.37. The business has a fifty day simple moving average of $24.85 and a 200-day simple moving average of $22.40. Veritex has a 52 week low of $15.93 and a 52 week high of $28.09. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio (DPR) is 50.00%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $29.00 price objective on shares of Veritex in a report on Wednesday, August 28th. Stephens lifted their price target 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 upped their price objective on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.