Wall Street analysts expect Veritex Holdings Inc (NASDAQ:VBTX) to announce $30.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Veritex’s earnings, with the highest sales estimate coming in at $31.60 million and the lowest estimate coming in at $30.30 million. Veritex reported sales of $28.05 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The company is scheduled to issue its next earnings results on Monday, February 4th.
On average, analysts expect that Veritex will report full-year sales of $121.40 million for the current financial year, with estimates ranging from $115.50 million to $125.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $315.97 million, with estimates ranging from $289.70 million to $339.40 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Veritex.
Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.10). The company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $30.50 million. Veritex had a net margin of 23.12% and a return on equity of 6.83%.
VBTX has been the topic of several research reports. BidaskClub lowered shares of Veritex from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Raymond James initiated coverage on shares of Veritex in a report on Tuesday, October 2nd. They set an “outperform” rating and a $33.00 price target on the stock. Stephens set a $39.00 price target on shares of Veritex and gave the company a “buy” rating in a report on Monday, October 22nd. ValuEngine lowered shares of Veritex from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research lowered shares of Veritex from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.00.
Shares of Veritex stock opened at $25.69 on Monday. The company has a market cap of $622.39 million, a P/E ratio of 27.04, a P/E/G ratio of 2.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.01. Veritex has a 1 year low of $20.99 and a 1 year high of $33.08.
In related news, CEO C Malcolm Holland III sold 3,750 shares of Veritex stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $30.60, for a total transaction of $114,750.00. Following the sale, the chief executive officer now directly owns 92,252 shares in the company, valued at approximately $2,822,911.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC acquired a new stake in Veritex during the 2nd quarter worth approximately $109,000. Advisors Asset Management Inc. acquired a new stake in Veritex during the 3rd quarter worth approximately $112,000. Panagora Asset Management Inc. acquired a new stake in Veritex during the 3rd quarter worth approximately $151,000. Buckingham Asset Management LLC acquired a new stake in Veritex during the 3rd quarter worth approximately $239,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Veritex by 43.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,811 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 2,368 shares during the period. Institutional investors and hedge funds own 76.11% of the company’s stock.
Veritex Company Profile
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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