Veritex (NASDAQ:VBTX) Posts Earnings Results, Beats Expectations By $0.04 EPS

Veritex (NASDAQ:VBTX) issued its earnings results on Tuesday. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04, Yahoo Finance reports. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The firm had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same period last year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year.

Veritex Stock Performance

NASDAQ:VBTX opened at $27.88 on Thursday. Veritex has a 52-week low of $15.93 and a 52-week high of $28.46. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 17.87 and a beta of 1.37. The firm’s 50-day moving average is $25.18 and its 200-day moving average is $22.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95.

Wall Street Analyst Weigh In

VBTX has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday. Stephens raised their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler upped their price target on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Veritex currently has an average rating of “Moderate Buy” and an average 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.