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

Veritex Holdings, Inc. (NASDAQ:VBTX) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.20 per share by the financial services provider on Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, November 8th.

Veritex has increased its dividend payment by an average of 5.6% per year over the last three years. Veritex has a payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Veritex to earn $2.25 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 35.6%.

Veritex Price Performance

NASDAQ VBTX opened at $30.34 on Thursday. Veritex has a 1 year low of $17.43 and a 1 year high of $30.64. The stock’s 50-day moving average price is $25.97 and its two-hundred day moving average price is $23.08. The company has a market cap of $1.65 billion, a PE ratio of 19.45 and a beta of 1.36. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that Veritex will post 2.14 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on VBTX. DA Davidson upped their price target on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Insider Activity at Veritex

In other news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at $6,206,215.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.60% of the stock is owned by corporate insiders.

About Veritex

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.