Analysts expect Veritex Holdings Inc (NASDAQ:VBTX) to report $30.73 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Veritex’s earnings, with the lowest sales estimate coming in at $30.30 million and the highest estimate coming in at $31.60 million. Veritex reported sales of $28.05 million during the same quarter last year, which indicates a positive year over year growth rate of 9.6%. The firm is expected to issue its next earnings results on Monday, February 4th.
According to Zacks, analysts expect that Veritex will report full year sales of $121.40 million for the current fiscal year, with estimates ranging from $115.50 million to $125.00 million. For the next fiscal year, analysts forecast that the company will post sales of $315.97 million, with estimates ranging from $289.70 million to $339.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Veritex.
Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Veritex had a net margin of 23.12% and a return on equity of 6.83%. The business had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $30.50 million.
A number of research firms recently issued reports on VBTX. BidaskClub downgraded Veritex from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. ValuEngine downgraded Veritex from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Veritex from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Sandler O’Neill restated a “buy” rating and set a $37.00 price target on shares of Veritex in a research note on Thursday, July 26th. Finally, Raymond James dropped their price target on Veritex from $33.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Three analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $34.00.
In other Veritex news, CEO C Malcolm Holland III sold 3,750 shares of Veritex stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $30.60, for a total value of $114,750.00. Following the transaction, the chief executive officer now directly owns 92,252 shares in the company, valued at approximately $2,822,911.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in VBTX. CIBC Private Wealth Group LLC purchased a new position in shares of Veritex in the 2nd quarter valued at approximately $109,000. Buckingham Asset Management LLC purchased a new position in shares of Veritex in the 3rd quarter valued at approximately $239,000. Metropolitan Life Insurance Co. NY grew its stake 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 valued at $243,000 after purchasing an additional 2,368 shares during the last quarter. Voya Investment Management LLC purchased a new position in shares of Veritex in the 2nd quarter valued at approximately $246,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Veritex in the 3rd quarter valued at approximately $281,000. Institutional investors own 73.49% of the company’s stock.
VBTX opened at $23.91 on Friday. Veritex has a one year low of $20.99 and a one year high of $33.08. The stock has a market capitalization of $580.97 million, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.08 and a beta of 1.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.17.
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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