Veritex Holdings, Inc. Declares Quarterly Dividend of $0.20 (NASDAQ:VBTX)

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.20 per share by the financial services provider on Friday, May 24th. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, May 9th.

Veritex has increased its dividend payment by an average of 5.6% per year over the last three years. Veritex has a dividend payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Veritex to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 33.9%.

Veritex Stock Down 0.9 %

NASDAQ VBTX opened at $20.32 on Wednesday. The firm has a market cap of $1.11 billion, a PE ratio of 11.81 and a beta of 1.33. Veritex has a one year low of $14.88 and a one year high of $24.46. The stock’s 50 day simple moving average is $19.85 and its 200 day simple moving average is $20.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The business had revenue of $191.25 million for the quarter, compared to the consensus estimate of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same quarter last year, the company earned $0.79 earnings per share. As a group, sell-side analysts forecast that Veritex will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Piper Sandler boosted their price target on shares of Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Stephens restated an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veritex currently has a consensus rating of “Hold” and a consensus price target of $24.38.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.