Raytheon awarded $71 million in Navy contracts for missile systems
Veritex Holdings Inc (VBTX) stock reached a 52-week high of 33.69 USD, marking a significant milestone for the $1.84 billion market cap company. According to InvestingPro analysis, the stock appears slightly undervalued at current levels. Over the past year, the stock has experienced a robust increase, with a 1-year return of 39.74% and an impressive YTD gain of 25.45%. Trading at a P/E ratio of 15.76 and offering a dividend yield of 2.65%, this upward trajectory reflects the company’s strong performance and investor confidence. InvestingPro subscribers have access to 8 additional key insights about VBTX’s valuation and growth prospects. The achievement of this 52-week high underscores the positive momentum Veritex Holdings has maintained in the market, as it continues to deliver value to its shareholders. Discover comprehensive analysis and detailed metrics in the Pro Research Report, available exclusively on InvestingPro.
In other recent news, Veritex Holdings reported second-quarter earnings that surpassed analyst expectations, with adjusted earnings per share reaching $0.56. This figure exceeded the consensus estimate of $0.54. However, the company’s revenue for the quarter totaled $109.83 million, slightly below the analyst forecast of $110.59 million, though it showed an increase compared to the same period last year. In addition to these financial results, Keefe, Bruyette & Woods raised their price target for Veritex Holdings from $30 to $37. The adjustment was based on Veritex’s achievement of its 1.0% return on assets (ROA) target. Despite the revenue shortfall, these developments indicate positive momentum for the company. The firm maintained its Market Perform rating for the stock. These updates reflect recent developments surrounding Veritex Holdings.
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