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Veritex Holdings (VBTX) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 min read

For the quarter ended March 2024, Veritex Holdings (VBTX) reported revenue of $99.47 million, down 14.9% over the same period last year. EPS came in at $0.53, compared to $0.79 in the year-ago quarter.

The reported revenue represents a surprise of -9.33% over the Zacks Consensus Estimate of $109.7 million. With the consensus EPS estimate being $0.59, the EPS surprise was -10.17%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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.

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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): 62.5% versus 55.4% estimated by two analysts on average.

  • Net charge-offs to average loans outstanding: 0.2% versus 0.3% estimated by two analysts on average.

  • Net Interest Margin: 3.2% compared to the 3.3% average estimate based on two analysts.

  • Total nonperforming loans held for investment (NPLs): $85.36 million compared to the $91.93 million average estimate based on two analysts.

  • Total nonperforming assets (NPAs): $103.81 million compared to the $93.83 million average estimate based on two analysts.

  • Average Outstanding Balance - Total interest-earning assets: $11.52 billion versus the two-analyst average estimate of $11.52 billion.

  • Total Noninterest Income: $6.66 million compared to the $15.62 million average estimate based on two analysts.

  • Net Interest Income: $92.81 million versus $94.09 million estimated by two analysts on average.

View all Key Company Metrics for Veritex Holdings here>>>

Shares of Veritex Holdings have returned +2.5% over the past month versus the Zacks S&P 500 composite's -4.2% 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.

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Zacks Investment Research