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Veritex Holdings (VBTX) Surges 6.6%: Is This an Indication of Further Gains?
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Veritex Holdings (VBTX - Free Report) shares rallied 6.6% in the last trading session to close at $40.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.8% loss over the past four weeks.
Veritex Holdings witnessed a rise in share price for the second consecutive day. The performance of banks has been decent in the first quarter of 2022 so far. Also, investors are bullish on the sector, given the expectations of the interest rate hikes this year. This has possibly led to the optimistic stance by the investors, which drove Veritex Holdings higher.
This bank holding company is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of +7.8%. Revenues are expected to be $93.6 million, up 16.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Veritex Holdings, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VBTX going forward to see if this recent jump can turn into more strength down the road.
Veritex Holdings belongs to the Zacks Banks - Southeast industry. Another stock from the same industry, Regions Financial (RF - Free Report) , closed the last trading session 2% lower at $22. Over the past month, RF has returned -9.7%.
Regions Financial's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.49. Compared to the company's year-ago EPS, this represents a change of -22.2%. Regions Financial currently boasts a Zacks Rank of #3 (Hold).
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Veritex Holdings (VBTX) Surges 6.6%: Is This an Indication of Further Gains?
Veritex Holdings (VBTX - Free Report) shares rallied 6.6% in the last trading session to close at $40.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.8% loss over the past four weeks.
Veritex Holdings witnessed a rise in share price for the second consecutive day. The performance of banks has been decent in the first quarter of 2022 so far. Also, investors are bullish on the sector, given the expectations of the interest rate hikes this year. This has possibly led to the optimistic stance by the investors, which drove Veritex Holdings higher.
This bank holding company is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of +7.8%. Revenues are expected to be $93.6 million, up 16.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Veritex Holdings, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VBTX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Veritex Holdings belongs to the Zacks Banks - Southeast industry. Another stock from the same industry, Regions Financial (RF - Free Report) , closed the last trading session 2% lower at $22. Over the past month, RF has returned -9.7%.
Regions Financial's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.49. Compared to the company's year-ago EPS, this represents a change of -22.2%. Regions Financial currently boasts a Zacks Rank of #3 (Hold).