Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you accept our Privacy Policy and Terms of Service, revised from time to time, and you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Veritex Holdings (VBTX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Veritex Holdings (VBTX - Free Report) reported revenue of $106.81 million, down 6.7% over the same period last year. EPS came in at $0.52, compared to $0.64 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $107.8 million, representing a surprise of -0.92%. The company delivered an EPS surprise of -1.89%, with the consensus EPS estimate being $0.53.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Veritex Holdings performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (GAAP): 59.1% versus the two-analyst average estimate of 58.2%.
- Net charge-offs to average loans outstanding: 0.3% versus 0.3% estimated by two analysts on average.
- Net Interest Margin: 3.3% compared to the 3.2% average estimate based on two analysts.
- Total nonperforming loans held for investment (NPLs): $58.75 million versus $85.54 million estimated by two analysts on average.
- Total nonperforming assets (NPAs): $83.01 million compared to the $95.29 million average estimate based on two analysts.
- Average Outstanding Balance - Total interest-earning assets: $11.76 billion compared to the $11.80 billion average estimate based on two analysts.
- Total Noninterest Income: $10.58 million compared to the $12.79 million average estimate based on two analysts.
- Net Interest Income: $96.24 million versus the two-analyst average estimate of $95.01 million.
View all Key Company Metrics for Veritex Holdings here>>>Shares of Veritex Holdings have returned +18.5% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.