Veritex (NASDAQ:VBTX) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Veritex (NASDAQ:VBTX) posted its earnings results on Tuesday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06), Briefing.com reports. Veritex had a net margin of 14.51% and a return on equity of 9.47%. The business had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. During the same quarter last year, the firm earned $0.79 earnings per share.

Veritex Stock Performance

VBTX opened at $20.77 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $19.86 and its two-hundred day moving average price is $20.28. The firm has a market capitalization of $1.13 billion, a P/E ratio of 10.49 and a beta of 1.34. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46.

Analysts Set New Price Targets

Several research firms recently issued reports on VBTX. Keefe, Bruyette & Woods reduced their price objective on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Piper Sandler upped their price target on Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Stephens reissued an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a report on Monday, April 1st. Finally, StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.13.

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.