Veritex (US:VBTX) ZACKS·2024-10-22 23:31Core Insights - Veritex Holdings (VBTX) reported revenue of $113.17 million for the quarter ended September 2024, reflecting a year-over-year increase of 3.8% [1] - Earnings per share (EPS) for the quarter was $0.59, slightly down from $0.60 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate by 3.11%, while the EPS surpassed the consensus estimate by 5.36% [1] Financial Performance Metrics - Efficiency Ratio (GAAP) was reported at 61.9%, higher than the average estimate of 57.1% from two analysts [1] - Net charge-offs to average loans outstanding were 0%, better than the average estimate of 0.3% [1] - Net Interest Margin stood at 3.3%, matching the average estimate from two analysts [1] - Total nonperforming loans (NPLs) were $58.27 million, exceeding the average estimate of $49.60 million [1] - Total nonperforming assets (NPAs) were $67.30 million, lower than the average estimate of $72.68 million [1] - Average Outstanding Balance of total interest-earning assets was $12.05 billion, above the average estimate of $11.83 billion [1] - Total Noninterest Income reached $13.11 million, surpassing the average estimate of $11.57 million [1] - Net Interest Income was reported at $100.06 million, exceeding the average estimate of $98.17 million [1] Stock Performance - Over the past month, shares of Veritex Holdings have returned +3.1%, outperforming the Zacks S&P 500 composite's +2.8% change [2] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [2]