Veritex Holdings beats analyst expectations in 4Q earnings

Veritex Holdings Inc (NASDAQ:VBTX), the parent company for Dallas-based Veritex Community Bank, posted strong fourth-quarter earnings after the close of the market on Monday.

The results beat Wall Street expectations. For the quarter ended December 2018, the company reported adjusted earnings of $0.47 per share on revenue of $32.3 million. The consensus earnings estimate was $0.45 per share on revenue of $30.7 million.

Shares of Veritex have jumped 13% since the beginning of 2019. On Monday, shares were up 2.8% at $24.24. 

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The company announced on Monday that it will be initiating a regular quarterly cash divident of $0.125 per share on its outstanding common stock.

“This is the first common stock dividend declared by the board of directors of the company and reflects the strength of the company’s performance over the last fiscal year and the higher level of organic capital generation that resulted from the lower effective tax rates in the 2017 Tax Cuts and Jobs Act,” according to a statement by the company. 

For the year, the company reported profits of $39.3 million, or $1.60 per share. It reported revenue of $126.1 million.

Story by ProactiveInvestors