$30.73 Million in Sales Expected for Veritex Holdings Inc (VBTX) This Quarter
Wall Street brokerages predict that Veritex Holdings Inc (NASDAQ:VBTX) will report sales of $30.73 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Veritex’s earnings. The highest sales estimate is $31.60 million and the lowest is $30.30 million. Veritex posted sales of $28.05 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The business is expected to report its next earnings report 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 anticipate that the firm 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 an average based on a survey of research firms that cover Veritex.
Veritex (NASDAQ:VBTX) last posted 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). The business had revenue of $31.69 million during the quarter, compared to analyst estimates of $30.50 million. Veritex had a net margin of 23.12% and a return on equity of 6.83%.
NASDAQ VBTX traded up $0.49 during trading on Monday, reaching $23.57. The company’s stock had a trading volume of 287,343 shares, compared to its average volume of 224,118. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $559.16 million, a PE ratio of 24.81, a P/E/G ratio of 2.00 and a beta of 1.55. Veritex has a twelve month low of $20.99 and a twelve month high of $33.08.
In other news, CEO C Malcolm Holland III sold 3,750 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $25.62, for a total transaction of $96,075.00. Following the transaction, the chief executive officer now directly owns 93,046 shares in the company, valued at $2,383,838.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in Veritex during the third quarter worth about $7,735,000. Vanguard Group Inc. boosted its holdings in Veritex by 1.1% during the third quarter. Vanguard Group Inc. now owns 958,672 shares of the financial services provider’s stock worth $27,092,000 after buying an additional 10,274 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Veritex by 6.9% during the third quarter. TIAA CREF Investment Management LLC now owns 48,786 shares of the financial services provider’s stock worth $1,379,000 after buying an additional 3,155 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Veritex by 6.0% during the third quarter. Teachers Advisors LLC now owns 41,106 shares of the financial services provider’s stock worth $1,162,000 after buying an additional 2,321 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in Veritex during the third quarter worth about $112,000. Institutional investors and hedge funds own 77.94% of the company’s stock.
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.
See Also: Diversification
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