Veritex Holdings, Inc. (VBTX) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Veritex Holdings, Inc. (NASDAQ:VBTX) posted its quarterly earnings data on Monday. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02), Bloomberg Earnings reports. Veritex Holdings had a net margin of 22.61% and a return on equity of 6.09%. The company had revenue of $21.11 million for the quarter, compared to analyst estimates of $20.80 million.
Veritex Holdings (VBTX) traded up 0.33% during trading on Tuesday, hitting $27.03. 17,709 shares of the stock traded hands. The company’s 50 day moving average price is $26.31 and its 200 day moving average price is $26.59. Veritex Holdings has a 12 month low of $17.42 and a 12 month high of $29.43. The company has a market cap of $411.23 million, a P/E ratio of 27.44 and a beta of 1.66.
In related news, insider Ned N. Fleming III sold 66,997 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $26.90, for a total transaction of $1,802,219.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ned N. Fleming III sold 19,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $26.12, for a total value of $517,176.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 419,800 shares of company stock valued at $11,059,556. 6.90% of the stock is owned by company insiders.
Several research firms have recently issued reports on VBTX. Zacks Investment Research upgraded shares of Veritex Holdings from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Piper Jaffray Companies restated a “neutral” rating and set a $29.50 price objective (up previously from $29.00) on shares of Veritex Holdings in a report on Wednesday, August 9th. Stephens set a $32.00 price objective on shares of Veritex Holdings and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Veritex Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.83.
About Veritex Holdings
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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