DA Davidson Weighs in on Veritex Holdings, Inc.’s FY2024 Earnings (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX) – Stock analysts at DA Davidson lowered their FY2024 earnings estimates for Veritex in a research report issued on Thursday, April 25th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $2.24 per share for the year, down from their prior forecast of $2.31. The consensus estimate for Veritex’s current full-year earnings is $2.19 per share. DA Davidson also issued estimates for Veritex’s FY2025 earnings at $2.38 EPS.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). Veritex had a net margin of 12.47% and a return on equity of 8.46%. The firm had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. During the same period last year, the firm posted $0.79 EPS.

Several other equities analysts also recently issued reports on VBTX. Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Veritex in a report on Wednesday, April 24th. Piper Sandler boosted their price target on shares of Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.38.

Veritex Stock Performance

Shares of VBTX opened at $20.17 on Monday. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 11.73 and a beta of 1.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $19.86 and a 200-day moving average of $20.32.

Institutional Investors Weigh In On Veritex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Veritex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after acquiring an additional 52,933 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Veritex by 19.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after acquiring an additional 305,980 shares in the last quarter. Victory Capital Management Inc. raised its position in Veritex by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock worth $42,260,000 after acquiring an additional 93,753 shares in the last quarter. LSV Asset Management raised its position in Veritex by 25.0% in the third quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after acquiring an additional 318,600 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Veritex by 23.2% in the fourth quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after acquiring an additional 245,133 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s dividend payout ratio is currently 46.51%.

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.