Veritex (NASDAQ:VBTX – Get Rating) last posted its earnings results on Tuesday, January 25th. The financial services provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The company had revenue of $92.90 million for the quarter, compared to analyst estimates of $90.09 million. Veritex had a return on equity of 10.94% and a net margin of 37.23%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, analysts expect Veritex to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of NASDAQ:VBTX traded up $0.73 during midday trading on Tuesday, hitting $35.50. The company’s stock had a trading volume of 437 shares, compared to its average volume of 375,528. Veritex has a fifty-two week low of $27.28 and a fifty-two week high of $45.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 12.76 and a beta of 1.49. The stock’s 50 day simple moving average is $38.67 and its 200 day simple moving average is $39.99.
In other news, CEO C Malcolm Holland III sold 6,250 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $39.90, for a total value of $249,375.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pat S. Bolin purchased 13,158 shares of the stock in a transaction that occurred on Tuesday, March 8th. The shares were acquired at an average cost of $38.00 per share, for a total transaction of $500,004.00. The disclosure for this purchase can be found here. Company insiders own 4.72% of the company’s stock.
A number of institutional investors have recently made changes to their positions in VBTX. Sei Investments Co. grew its stake in Veritex by 61.6% during the fourth quarter. Sei Investments Co. now owns 393,089 shares of the financial services provider’s stock worth $15,639,000 after buying an additional 149,770 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Veritex by 177.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 213,247 shares of the financial services provider’s stock valued at $8,483,000 after purchasing an additional 136,481 shares in the last quarter. Morgan Stanley boosted its stake in shares of Veritex by 42.0% in the 2nd quarter. Morgan Stanley now owns 182,203 shares of the financial services provider’s stock valued at $6,451,000 after purchasing an additional 53,916 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Veritex in the 4th quarter valued at approximately $1,536,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Veritex by 305.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 42,014 shares of the financial services provider’s stock valued at $1,671,000 after purchasing an additional 31,639 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.
Several research analysts have issued reports on VBTX shares. Raymond James increased their price objective on Veritex from $46.00 to $49.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 27th. StockNews.com began coverage on shares of Veritex in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of Veritex from a “buy” rating to a “hold” rating in a research note on Friday, March 11th. DA Davidson reaffirmed a “buy” rating on shares of Veritex in a research note on Wednesday, January 26th. Finally, Piper Sandler lowered their price objective on shares of Veritex from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, March 9th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $46.25.
Veritex Company Profile (Get Rating)
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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.
- Get a free copy of the StockNews.com research report on Veritex (VBTX)
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