Veritex (NASDAQ:VBTX) Announces Quarterly Earnings Results

Veritex (NASDAQ:VBTX) released its quarterly earnings results on Tuesday. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06), Briefing.com reports. The company had revenue of $191.25 million for the quarter, compared to analysts’ expectations of $109.70 million. Veritex had a return on equity of 8.51% and a net margin of 12.47%. During the same period in the previous year, the business posted $0.79 EPS.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $20.79 on Thursday. The business has a fifty day simple moving average of $19.87 and a 200-day simple moving average of $20.28. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.13 billion, a P/E ratio of 12.09 and a beta of 1.34.

Analyst Ratings Changes

Several equities analysts have weighed in on VBTX shares. Keefe, Bruyette & Woods dropped their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Piper Sandler lifted their price objective on Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.13.

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.