Veritex extends stock buyback program through March 2026

DALLAS - Veritex Holdings, Inc. (NASDAQ:VBTX), the parent company of Veritex Community Bank, announced today that its Board of Directors has authorized the extension of its stock buyback program. The program, which allows for the repurchase of up to $50 million of the company’s outstanding common stock, has been extended through March 31, 2026. The $1.33 billion market cap bank currently trades below its InvestingPro Fair Value, suggesting potential upside for investors.

Since the initiation of the Stock Buyback Program, Veritex has repurchased 555,016 shares, equivalent to $13.1 million. The continuation of the program is at the discretion of the Board and may be altered or discontinued at any time without prior notice.

The buyback initiative was originally set to expire today but will now continue for an additional year without any changes to its terms. The funding for the repurchases is expected to come from the company’s cash reserves and operational cash flow.

The company’s decision to buy back shares will be influenced by market conditions, legal and regulatory requirements, and other pertinent factors. However, the program does not obligate Veritex to acquire any specific number of shares.

Veritex Holdings, headquartered in Dallas, Texas, operates through its wholly-owned subsidiary, Veritex Community Bank. The bank serves clients in the Dallas-Fort Worth metroplex and the Houston area and is regulated by the Texas Department of Banking and the Federal Reserve System.

This announcement includes forward-looking statements, which are based on current expectations and projections about future events. Investors are cautioned that such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially.

The information in this article is based on a press release statement from Veritex Holdings, Inc.

In other recent news, Veritex Holdings Inc. reported its fourth-quarter 2024 earnings, with an earnings per share (EPS) of $0.54, slightly missing the forecasted $0.56. The company’s revenue also fell short, coming in at $106.19 million against expectations of $112.52 million. Despite these misses, the company remains focused on strategic initiatives such as government-guaranteed loans and treasury management improvements. The net interest margin saw a decline but is expected to improve to a range of 3.25%-3.30%. The tangible book value per share increased by 10.9% year-over-year, signaling strong equity growth. Looking forward, Veritex Holdings aims for a 1% return on assets in 2025, with expectations for low to mid-single-digit loan growth. The company is also targeting an enhancement of its fee income businesses and a reduction in deposit costs. In related developments, the company is undergoing a management transition with CFO Terry Early set to retire, and Will Hofford stepping into the role.

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