Veritex Holdings Stock Price, News & Analysis

Veritex Holdings (Nasdaq: VBTX) reported strong financial results for Q1 2022, with diluted EPS at $0.66 and annualized loan growth of 21%. Total deposits increased by 29%, reaching $7.9 billion. Despite a drop in GAAP net income to $33.5 million from $41.5 million in Q4 2021, the company’s return on average assets was 1.36%. Noninterest income fell 6.5% compared to the previous quarter, while noninterest expenses rose by 3.3%. Veritex announced a quarterly dividend of $0.20 per share and is set to acquire interLINK for enhanced liquidity and deposit growth.

Veritex Community Bank has made significant leadership appointments to enhance its focus on middle-market banking, commercial real estate, and private banking. William Ray Jr., Brent Reed, and Will Richardson join the bank from Bank of Houston, bringing extensive banking experience.

Ray will lead middle-market banking, while Reed focuses on commercial real estate, which constitutes 45% of the bank's loan portfolio. Richardson is tasked with expanding private banking services, capitalizing on recent growth in this sector. Veritex has committed to growing its Houston market presence since 2019.

Veritex Holdings, Inc. (Nasdaq: VBTX) will release its first quarter 2022 financial results on April 26, 2022, post-market close. An investor conference call will follow on April 27, 2022, at 8:30 a.m. Central Time. Interested parties can pre-register for the call via the company's website, where they will also find the earnings release. A live webcast of the call will be available, along with an audio replay after the call, accessible until May 4, 2022.

On March 3, 2022, Veritex Holdings (Nasdaq: VBTX) announced a public offering of 3,947,369 shares of common stock, priced at $38.00 per share, aiming for gross proceeds of approximately $150 million. After underwriting discounts, the net proceeds are expected to be around $141.8 million. The proceeds will support general corporate purposes, including growth and strategic acquisitions. The offering, managed by Keefe, Bruyette & Woods and Goldman Sachs, is subject to customary closing conditions and is expected to close on or about March 8, 2022.

Veritex Holdings (Nasdaq: VBTX) announced a public offering of its common stock, granting underwriters a 30-day option for additional shares. Joint book-running managers include Keefe, Bruyette & Woods and Goldman Sachs & Co. LLC. Proceeds will support general corporate purposes and growth investments in Veritex Community Bank, as well as future acquisitions. The offering is governed by an effective shelf registration statement with the SEC, and a preliminary prospectus supplement has been filed. This release does not constitute an offer to sell or buy securities.

Veritex Holdings has announced a definitive agreement to acquire StoneCastle Cash Insured Sweep, LLC for approximately $91 million in cash and stock. This move will enhance Veritex's liquidity by providing access to $5.7 billion in stable core deposits, facilitating significant loan growth. The acquisition is expected to be financially attractive, with an anticipated 8% EPS accretion in 2024 and a run-rate EPS accretion of 14% thereafter. The transaction has been approved and is set to close in Q3 2022, pending regulatory approvals.

Veritex Holdings, Inc. (Nasdaq: VBTX) announced a quarterly cash dividend of $0.20 per share on its common stock. This dividend will be paid on or after February 25, 2022 to shareholders on record as of February 11, 2022. Veritex operates primarily through Veritex Community Bank, serving the Dallas-Fort Worth and Houston areas. Forward-looking statements regarding the company's plans and objectives are also included, emphasizing the potential fluctuations and risks involved.

Veritex Holdings (Nasdaq: VBTX) reported strong financial results for Q4 2021 and the full year, with net income of $41.5 million and diluted EPS of $0.82. The Company achieved a 16% growth in loan balances during 2021, while total deposits increased by 13.1% year-over-year. Notably, nonperforming assets improved to 0.51%, the lowest level since 2019. The 49% investment in Thrive Mortgage contributed $6 million to noninterest income, while the North Avenue Capital acquisition added $1.3 million. A quarterly cash dividend of $0.20 per share was declared, payable on February 25, 2022.

Veritex Holdings (Nasdaq: VBTX) announced it will release its fourth quarter and year-end 2021 results on January 25, 2022, after market close. A conference call to review these results will take place on January 26, 2022, at 8:30 a.m. Central Time. Participants can pre-register for the call via the company's website to receive a unique PIN for access. The call will be webcast live, with an audio replay available one hour after the conclusion. For more details, visit the Veritex website.