Veritex (NASDAQ:VBTX) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Veritex (NASDAQ:VBTX) issued its earnings results on Friday. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02, RTT News reports. Veritex had a return on equity of 7.51% and a net margin of 14.12%. The business had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. During the same period last year, the company posted $0.52 EPS.

Veritex Stock Performance

Veritex stock traded down $0.55 during midday trading on Friday, hitting $32.25. The company’s stock had a trading volume of 1,135,347 shares, compared to its average volume of 468,810. Veritex has a 1-year low of $20.10 and a 1-year high of $33.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50-day moving average price of $26.00 and a two-hundred day moving average price of $25.19. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 15.81 and a beta of 1.03.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.73%. Veritex’s dividend payout ratio (DPR) is 43.14%.

Institutional Investors Weigh In On Veritex

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Veritex by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,225 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 1,362 shares in the last quarter. Jane Street Group LLC lifted its stake in Veritex by 451.0% in the 1st quarter. Jane Street Group LLC now owns 115,022 shares of the financial services provider’s stock worth $2,872,000 after purchasing an additional 94,148 shares in the last quarter. Intech Investment Management LLC lifted its stake in Veritex by 24.5% in the 1st quarter. Intech Investment Management LLC now owns 46,022 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 9,055 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Veritex in the 1st quarter worth $28,000. Finally, Strs Ohio bought a new position in shares of Veritex during the 1st quarter valued at $135,000. 88.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VBTX shares. DA Davidson cut their target price on shares of Veritex from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Stephens reiterated an “equal weight” rating and set a $30.00 price objective on shares of Veritex in a research report on Wednesday, April 23rd. William Blair upgraded shares of Veritex to an “outperform” rating in a research report on Monday. Keefe, Bruyette & Woods lowered their price target on shares of Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group started coverage on shares of Veritex in a report on Monday. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Veritex has an average rating of “Moderate Buy” and an average target price of $30.92.

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.