FY2024 EPS Estimates for Veritex Holdings, Inc. (NASDAQ:VBTX) Boosted by DA Davidson

Veritex Holdings, Inc. (NASDAQ:VBTX) – Equities research analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Veritex in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $2.31 for the year, up from their prior forecast of $2.25. The consensus estimate for Veritex’s current full-year earnings is $2.22 per share.

Several other research firms also recently weighed in on VBTX. Piper Sandler lifted their target price on Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday. Stephens reiterated an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods cut their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.13.

Veritex Stock Up 0.2 %

NASDAQ VBTX opened at $19.32 on Friday. The company has a market capitalization of $1.05 billion, a P/E ratio of 9.76 and a beta of 1.34. The stock has a 50 day moving average price of $19.86 and a 200-day moving average price of $20.19. Veritex has a one year low of $14.88 and a one year high of $24.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97.

Veritex (NASDAQ:VBTX) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $77.74 million for the quarter, compared to the consensus estimate of $110.67 million. Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm’s revenue was down 35.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, February 8th. Veritex’s dividend payout ratio (DPR) is 40.40%.

Institutional Investors Weigh In On Veritex

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Middle East FZE acquired a new stake in shares of Veritex during the fourth quarter worth about $31,000. Quarry LP lifted its holdings in Veritex by 323.2% in the first quarter. Quarry LP now owns 1,676 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,280 shares during the period. Lazard Asset Management LLC acquired a new position in Veritex in the first quarter valued at approximately $33,000. Point72 Hong Kong Ltd acquired a new position in Veritex in the first quarter valued at approximately $41,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Veritex in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

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.