Equities research analysts expect Veritex Holdings Inc (NASDAQ:VBTX) to post sales of $81.10 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Veritex’s earnings, with the lowest sales estimate coming in at $78.40 million and the highest estimate coming in at $82.60 million. Veritex posted sales of $30.22 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 168.4%. The business is expected to report its next quarterly earnings report on Monday, July 22nd.
According to Zacks, analysts expect that Veritex will report full year sales of $327.47 million for the current year, with estimates ranging from $316.90 million to $333.30 million. For the next fiscal year, analysts expect that the company will report sales of $351.30 million, with estimates ranging from $348.40 million to $355.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Veritex.
Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $81.40 million for the quarter, compared to analysts’ expectations of $78.50 million. Veritex had a net margin of 16.31% and a return on equity of 9.11%.
NASDAQ:VBTX traded up $0.43 during trading hours on Friday, hitting $26.76. The company had a trading volume of 229,291 shares, compared to its average volume of 377,577. The stock has a market cap of $1.43 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.71. Veritex has a 52 week low of $20.34 and a 52 week high of $33.08. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, May 8th. Veritex’s dividend payout ratio (DPR) is currently 27.17%.
In other Veritex news, CEO C Malcolm Holland III sold 3,750 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $28.11, for a total transaction of $105,412.50. Following the completion of the transaction, the chief executive officer now owns 104,277 shares of the company’s stock, valued at $2,931,226.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Terry Earley acquired 6,800 shares of the stock in a transaction on Thursday, April 25th. The shares were purchased at an average cost of $25.88 per share, with a total value of $175,984.00. Following the transaction, the chief financial officer now directly owns 23,700 shares of the company’s stock, valued at approximately $613,356. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 33,800 shares of company stock worth $877,844. 4.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in VBTX. Bank of New York Mellon Corp lifted its position in Veritex by 4.1% during the third quarter. Bank of New York Mellon Corp now owns 96,699 shares of the financial services provider’s stock valued at $2,733,000 after buying an additional 3,833 shares during the period. BlackRock Inc. lifted its position in Veritex by 14.1% during the third quarter. BlackRock Inc. now owns 1,707,756 shares of the financial services provider’s stock valued at $48,261,000 after buying an additional 211,448 shares during the period. Panagora Asset Management Inc. purchased a new position in Veritex during the third quarter valued at $151,000. Dimensional Fund Advisors LP lifted its position in Veritex by 8.1% during the third quarter. Dimensional Fund Advisors LP now owns 944,165 shares of the financial services provider’s stock valued at $26,682,000 after buying an additional 70,651 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Veritex during the third quarter valued at $250,000. 89.90% of the stock is owned by institutional investors and hedge funds.
Veritex Company Profile
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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