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

Veritex (NASDAQ:VBTX) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06), Briefing.com reports. The firm had revenue of $191.25 million for the quarter, compared to the consensus estimate of $109.70 million. Veritex had a return on equity of 9.47% and a net margin of 14.51%. During the same period in the prior year, the company posted $0.79 earnings per share.

Veritex Stock Performance

Shares of VBTX traded up $0.09 during trading hours on Wednesday, hitting $20.86. The company had a trading volume of 99,909 shares, compared to its average volume of 421,322. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 10.31 and a beta of 1.34. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Veritex has a 12 month low of $14.88 and a 12 month high of $24.46. The business has a fifty day moving average of $19.86 and a 200-day moving average of $20.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods cut their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research note on Monday, April 1st. One 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, the stock presently has a consensus rating of “Hold” and an average 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.