Veritex Holdings Inc (VBTX) Forecasted to Earn Q4 2019 Earnings of $0.67 Per Share

Veritex Holdings Inc (NASDAQ:VBTX) – Analysts at DA Davidson reduced their Q4 2019 earnings estimates for shares of Veritex in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $0.67 for the quarter, down from their previous estimate of $0.68.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ 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%.

A number of other brokerages have also recently commented on VBTX. Zacks Investment Research raised shares of Veritex from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Friday, March 1st. BidaskClub raised shares of Veritex from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. ValuEngine raised shares of Veritex from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, Stephens reissued a “buy” rating and set a $32.00 price objective on shares of Veritex in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $32.25.

VBTX traded up $0.14 during trading on Friday, reaching $26.47. 798 shares of the stock traded hands, compared to its average volume of 378,508. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.43 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.71. Veritex has a 12 month low of $20.34 and a 12 month high of $33.08.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its position in shares of Veritex by 131,057.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,181 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 9,174 shares during the period. LS Investment Advisors LLC grew its position in shares of Veritex by 92.1% during the 1st quarter. LS Investment Advisors LLC now owns 1,364 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 654 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Veritex during the 1st quarter valued at approximately $395,000. Virginia Retirement Systems ET AL bought a new position in Veritex in the 1st quarter worth approximately $940,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Veritex in the 1st quarter worth approximately $75,000. 89.90% of the stock is currently owned by institutional investors.

In related news, CFO Terry Earley acquired 6,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were bought at an average price 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 $613,356. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gordon Huddleston acquired 1,000 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were bought at an average cost of $26.04 per share, for a total transaction of $26,040.00. The disclosure for this purchase can be found here. Insiders have bought a total of 33,800 shares of company stock worth $877,844 in the last three months. Insiders own 4.70% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.89%. Veritex’s dividend payout ratio (DPR) is presently 27.17%.

About Veritex

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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Earnings History and Estimates for Veritex (NASDAQ:VBTX)

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