Aankondiging • Sep 04
Veritex Holdings, Inc. Announces Declaration of Cash Dividend, Payable on or After September 30, 2025 Veritex Holdings, Inc. announced the declaration of a cash dividend of $0.22 per share on its outstanding common stock. The dividend will be paid on or after September 30, 2025 to shareholders of record as of September 16, 2025. Aankondiging • Jul 14
Huntington Bancshares Incorporated (NasdaqGS:HBAN) agreed to acquire Veritex Holdings, Inc. (NasdaqGM:VBTX) for $1.8 billion. Huntington Bancshares Incorporated (NasdaqGS:HBAN) agreed to acquire Veritex Holdings, Inc. (NasdaqGM:VBTX) for $1.8 billion on July 13, 2025. Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction.
Upon conversion, Veritex teams and branches will operate under the Huntington Bank name and brand.
Malcolm Holland will join Huntington in a non-executive role as Chairman of Texas and continue his work to serve local customers and communities.
The transaction is subject to approval by regulatory board and Target's shareholders approval. The combination is expected to close early in the fourth quarter of 2025.
Evercore Inc. acted as financial advisor for Huntington Bancshares Incorporated. Commerce Street Capital, LLC acted as financial advisor for Huntington Bancshares Incorporated. Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor for Huntington Bancshares Incorporated. Keefe, Bruyette & Woods, Inc. acted as financial advisor for Veritex Holdings, Inc. Sven Mickisch, Timothy Gaffney, Brian Christiansen, Collin Janus, Larry Moss, Ryan Stott, Jonathan Goldstein, Jamie Talbot, Krista McManus and Carleigh Rodriguez of Simpson Thacher & Bartlett LLP acted as legal advisor for Veritex Holdings, Inc. Aankondiging • Jul 08
Veritex Holdings, Inc. to Report Q2, 2025 Results on Jul 22, 2025 Veritex Holdings, Inc. announced that they will report Q2, 2025 results After-Market on Jul 22, 2025 Aankondiging • Apr 30
Veritex Holdings, Inc., Annual General Meeting, May 27, 2025 Veritex Holdings, Inc., Annual General Meeting, May 27, 2025. Location: 8214 westchester drive, suite 735, texas 75225, dallas, United States Aankondiging • Apr 08
Veritex Holdings, Inc. to Report Q1, 2025 Results on Apr 22, 2025 Veritex Holdings, Inc. announced that they will report Q1, 2025 results After-Market on Apr 22, 2025 Aankondiging • Feb 01
Veritex Holdings, Inc. and Veritex Community Bank Announces CFO Changes On January 29, 2025, Veritex Holdings, Inc. and Veritex Community Bank announced that Chief Financial Officer, Terry S. Earley will retire effective June 30, 2025, following a planned transition period. Upon his retirement, Mr. Earley is expected to continue to be involved with Veritex in a consultancy capacity. Upon Mr. Earley’s retirement, William L. Holford, age 42, who currently serves as the Bank’s Executive Vice Present, Director of Strategic Corporate Development, will succeed Mr. Earley as Chief Financial Officer. Mr. Holford is in his 20th year in the financial services industry and joined Veritex in 2011. While at Veritex, Mr. Holford has held various positions including Controller, Treasurer and Director of Strategic Corporate Development. Mr. Holford will assume the Chief Financial Officer role on July 1, 2025, and work closely with Mr. Earley to ensure a smooth transition. Additional disclosure of any changes to Mr. Holford's compensation related to his new role will be provided if and when such changes are finalized. Aankondiging • Jan 31
Veritex Holdings, Inc. and Veritex Community Bank Announces Management Changes On January 29, 2025, Veritex Holdings, Inc. and Veritex Community Bank announced that Senior Executive Vice President, Terry S. Earley will retire effective June 30, 2025, following a planned transition period. Upon his retirement, Mr. Earley is expected to (i) join the board of directors of the Bank and (ii) continue to be involved with Veritex in a consultancy capacity. Upon Mr. Earley’s retirement, William L. Holford, age 42, who currently serves as the Bank’s Executive Vice Present, Director of Strategic Corporate Development, will succeed Mr. Earley as Senior Executive Vice President. Mr. Holford is in his 20th year in the financial services industry and joined Veritex in 2011. While at Veritex, Mr. Holford has held various positions including Controller, Treasurer and Director of Strategic Corporate Development. Mr. Holford will assume the Senior Executive Vice President role on July 1, 2025, and work closely with Mr. Earley to ensure a smooth transition. Additional disclosure of any changes to Mr. Holford's compensation related to his new role will be provided if and when such changes are finalized. Aankondiging • Jan 10
Veritex Holdings, Inc. to Report Q4, 2024 Results on Jan 28, 2025 Veritex Holdings, Inc. announced that they will report Q4, 2024 results After-Market on Jan 28, 2025 Aankondiging • Oct 25
Veritex Holdings, Inc. Declares Cash Dividend on Common Stock, Payable on or After November 22, 2024 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after November 22, 2024 to shareholders of record as of November 8, 2024. Aankondiging • Oct 08
Veritex Holdings, Inc. to Report Q3, 2024 Results on Oct 22, 2024 Veritex Holdings, Inc. announced that they will report Q3, 2024 results After-Market on Oct 22, 2024 Aankondiging • Jul 24
Veritex Holdings, Inc. Declares quarterly Cash Dividend on Common Stock, Payable on or after August 23, 2024 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after August 23, 2024 to shareholders of record as of August 9, 2024. Aankondiging • Jul 10
Veritex Holdings, Inc. to Report Q2, 2024 Results on Jul 23, 2024 Veritex Holdings, Inc. announced that they will report Q2, 2024 results After-Market on Jul 23, 2024 Declared Dividend • Apr 27
First quarter dividend of US$0.20 announced Dividend of US$0.20 is the same as last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 4.0%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 9.9% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 17% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.44 (down from US$0.71 in 1Q 2023). Revenue: US$93.5m (down 12% from 1Q 2023). Net income: US$24.2m (down 37% from 1Q 2023). Profit margin: 26% (down from 36% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Aankondiging • Apr 24
Veritex Holdings, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on or After May 24, 2024 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after May 24, 2024 to shareholders of record as of May 10, 2024. Aankondiging • Apr 05
Veritex Holdings, Inc., Annual General Meeting, May 15, 2024 Veritex Holdings, Inc., Annual General Meeting, May 15, 2024, at 10:00 Central Standard Time. Location: corporate offices located at 8214 Westchester Drive 7th Floor Dallas, Texas 75225 Dallas United States Agenda: To consider and approve the Election of Directors; to consider and approve the Advisory vote to approve the compensation of company's named executive officers; and to consider other matters. Aankondiging • Mar 29
Veritex Holdings, Inc. (NasdaqGM:VBTX) announces an Equity Buyback for $50 million worth of its shares. Veritex Holdings, Inc. (NasdaqGM:VBTX) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its common stock. The repurchases will be funded using the company’s cash on hand and cash from operations. The program will expire on March 31, 2025. Reported Earnings • Mar 02
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$2.00 (down from US$2.75 in FY 2022). Revenue: US$377.7m (down 3.1% from FY 2022). Net income: US$108.3m (down 26% from FY 2022). Profit margin: 29% (down from 38% in FY 2022). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.49% (down from 3.59% in FY 2022). Non-performing loans: 1.00% (up from 0.46% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Feb 10
Chairman & CEO exercised options and sold US$171k worth of stock On the 6th of February, Charles Holland exercised options to acquire 9k shares at no cost and sold these for an average price of US$19.98 per share. This trade did not impact their existing holding. For the year to December 2017, Charles' total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Charles' direct individual holding has increased from 182.77k shares to 207.00k. Company insiders have collectively sold US$527k more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Feb 01
Upcoming dividend of US$0.20 per share at 3.8% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 23 February 2024. Trailing yield: 3.8%. Lower than top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.1%). Declared Dividend • Jan 27
Fourth quarter dividend of US$0.20 announced Dividend of US$0.20 is the same as last year. Ex-date: 8th February 2024 Payment date: 23rd February 2024 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (40% payout ratio) and is expected to be well covered in 3 years' time (36% forecast payout ratio). The dividend has increased by an average of 9.9% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 14% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$2.00 (down from US$2.75 in FY 2022). Revenue: US$377.7m (down 3.1% from FY 2022). Net income: US$108.3m (down 26% from FY 2022). Profit margin: 29% (down from 38% in FY 2022). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.49% (down from 3.59% in FY 2022). Non-performing loans: 0.99% (up from 0.46% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Aankondiging • Jan 24
Veritex Holdings, Inc. Declares Quarterly Cash Dividend, Payable on or After February 23, 2024 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after February 23, 2024 to shareholders of record as of February 9, 2024. Price Target Changed • Jan 11
Price target increased by 9.0% to US$26.38 Up from US$24.20, the current price target is an average from 4 analysts. New target price is 17% above last closing price of US$22.46. Stock is down 21% over the past year. The company is forecast to post earnings per share of US$2.14 for next year compared to US$2.75 last year. Aankondiging • Jan 10
Veritex Holdings, Inc. to Report Q4, 2023 Results on Jan 23, 2024 Veritex Holdings, Inc. announced that they will report Q4, 2023 results After-Market on Jan 23, 2024 Upcoming Dividend • Nov 02
Upcoming dividend of US$0.20 per share at 4.6% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 24 November 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of American dividend payers (5.3%). Higher than average of industry peers (4.0%). New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: US$0.60 (down from US$0.80 in 3Q 2022). Revenue: US$101.3m (down 4.9% from 3Q 2022). Net income: US$32.6m (down 25% from 3Q 2022). Profit margin: 32% (down from 41% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Aankondiging • Oct 25
Veritex Holdings, Inc. Declares Cash Dividend on Common Stock, Payable on or after November 24, 2023 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after November 24, 2023 to shareholders of record as of November 10, 2023. Aankondiging • Oct 11
Veritex Holdings, Inc. to Report Q3, 2023 Results on Oct 24, 2023 Veritex Holdings, Inc. announced that they will report Q3, 2023 results After-Market on Oct 24, 2023 Upcoming Dividend • Aug 02
Upcoming dividend of US$0.20 per share at 3.7% yield Eligible shareholders must have bought the stock before 09 August 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.7%). In line with average of industry peers (3.4%). New Risk • Jul 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 26
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: US$0.62 (up from US$0.55 in 2Q 2022). Revenue: US$100.7m (up 17% from 2Q 2022). Net income: US$33.7m (up 14% from 2Q 2022). Profit margin: 34% (in line with 2Q 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 26
Veritex Holdings, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on or After August 26, 2022 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after August 25, 2023 to shareholders of record as of August 10, 2023. Aankondiging • Jul 12
Veritex Holdings, Inc. to Report Q2, 2023 Results on Jul 25, 2023 Veritex Holdings, Inc. announced that they will report Q2, 2023 results After-Market on Jul 25, 2023 Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$19.98, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in the US. Total returns to shareholders of 4.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$39.51 per share. Upcoming Dividend • May 03
Upcoming dividend of US$0.20 per share at 5.0% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of American dividend payers (5.0%). Higher than average of industry peers (3.6%). Reported Earnings • Apr 27
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: EPS: US$0.71 (up from US$0.66 in 1Q 2022). Revenue: US$106.0m (up 20% from 1Q 2022). Net income: US$38.4m (up 15% from 1Q 2022). Profit margin: 36% (down from 38% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.4%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 06
Price target decreased by 10% to US$30.80 Down from US$34.40, the current price target is an average from 5 analysts. New target price is 75% above last closing price of US$17.55. Stock is down 50% over the past year. The company is forecast to post earnings per share of US$3.11 for next year compared to US$2.75 last year. Recent Insider Transactions • Mar 21
Independent Director recently bought US$175k worth of stock On the 13th of March, Patrick Bolin bought around 10k shares on-market at roughly US$17.52 per share. This transaction amounted to 5.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$548k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$22.26, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 39% over the past three years. Recent Insider Transactions Derivative • Mar 09
Chairman exercised options and sold US$183k worth of stock On the 28th of February, Charles Holland exercised options to acquire 7k shares at no cost and sold these for an average price of US$26.66 per share. This trade did not impact their existing holding. For the year to December 2016, Charles' total compensation was 23% salary and 77% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Charles' direct individual holding has increased from 160.18k shares to 172.17k. Company insiders have collectively sold US$218k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 05
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$2.75. Revenue: US$389.7m (up 13% from FY 2021). Net income: US$146.3m (up 4.8% from FY 2021). Profit margin: 38% (down from 41% in FY 2021). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 3.59% (up from 3.24% in FY 2021). Non-performing loans: 0.46% (down from 0.68% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.4%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Recent Insider Transactions • Feb 12
Independent Director recently bought US$100k worth of stock On the 10th of February, John Sughrue bought around 4k shares on-market at roughly US$27.36 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$356k more in shares than they have sold in the last 12 months. Recent Insider Transactions Derivative • Feb 08
Chairman exercised options and sold US$110k worth of stock On the 1st of February, Charles Holland exercised options to acquire 4k shares at no cost and sold these for an average price of US$28.67 per share. This trade did not impact their existing holding. For the year to December 2016, Charles' total compensation was 23% salary and 77% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Charles' direct individual holding has increased from 160.18k shares to 166.16k. Company insiders have collectively bought US$9.7k more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Feb 02
Upcoming dividend of US$0.20 per share at 2.8% yield Eligible shareholders must have bought the stock before 09 February 2023. Payment date: 24 February 2023. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (3.0%). Major Estimate Revision • Jan 31
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$504.6m to US$493.1m. EPS estimate also fell from US$3.64 per share to US$3.19 per share. Net income forecast to grow 19% next year vs 9.9% growth forecast for Banks industry in the US. Consensus price target down from US$38.20 to US$34.00. Share price fell 6.2% to US$27.15 over the past week. Price Target Changed • Jan 26
Price target decreased by 11% to US$35.20 Down from US$39.33, the current price target is an average from 5 analysts. New target price is 31% above last closing price of US$26.97. Stock is down 32% over the past year. The company is forecast to post earnings per share of US$3.18 for next year compared to US$2.75 last year. Reported Earnings • Jan 25
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$2.75. Revenue: US$389.7m (up 13% from FY 2021). Net income: US$146.3m (up 4.8% from FY 2021). Profit margin: 38% (down from 41% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.4%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US. Aankondiging • Jan 25
Veritex Holdings, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on or After February 24, 2023 Veritex Holdings, Inc. announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after February 24, 2023 to shareholders of record as of February 10, 2023. Recent Insider Transactions • Dec 01
Independent Director recently bought US$64k worth of stock On the 29th of November, William Fallon bought around 2k shares on-market at roughly US$32.14 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$2.8m more in shares than they bought in the last 12 months. Upcoming Dividend • Nov 02
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 25 November 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (3.0%). Reported Earnings • Oct 26
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$0.80 (up from US$0.74 in 3Q 2021). Revenue: US$106.6m (up 22% from 3Q 2021). Net income: US$43.3m (up 18% from 3Q 2021). Profit margin: 41% (down from 42% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Sep 10
Senior Executive Vice President notifies of intention to sell stock Jonathan Heine intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of September. If the sale is conducted around the recent share price of US$29.69, it would amount to US$163k. Jonathan currently holds less than 1% of total shares outstanding. Company insiders have collectively sold US$6.2m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of American dividend payers (4.1%). Lower than average of industry peers (3.1%). Reported Earnings • Jul 28
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: US$0.55. Revenue: US$85.9m (up 8.7% from 2Q 2021). Net income: US$29.6m (flat on 2Q 2021). Profit margin: 35% (down from 37% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 26%, compared to a 15% growth forecast for the industry in the US. Price Target Changed • Jul 14
Price target decreased to US$40.83 Down from US$45.17, the current price target is an average from 5 analysts. New target price is 47% above last closing price of US$27.69. Stock is down 18% over the past year. The company is forecast to post earnings per share of US$2.77 for next year compared to US$2.83 last year. 
