Veritex (NASDAQ:VBTX) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Veritex (NASDAQ:VBTX) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01), Zacks reports. Veritex had a return on equity of 8.46% and a net margin of 12.47%. The firm had revenue of $106.81 million for the quarter, compared to the consensus estimate of $108.39 million. During the same quarter last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year.

Veritex Stock Performance

Shares of VBTX traded down $0.41 during trading hours on Wednesday, reaching $23.97. 834,404 shares of the company’s stock traded hands, compared to its average volume of 413,288. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 13.94 and a beta of 1.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.95. Veritex has a twelve month low of $15.93 and a twelve month high of $25.22. The business’s fifty day simple moving average is $21.00 and its two-hundred day simple moving average is $20.60.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VBTX shares. Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a research note on Wednesday, April 24th. Piper Sandler raised their target price on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

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.