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

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.20 per share by the financial services provider on Friday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 2.97%.

Veritex has increased its dividend payment by an average of 2.6% per year over the last three years. Veritex has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Veritex to earn $2.24 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 35.7%.

Veritex Price Performance

Shares of NASDAQ VBTX traded up $0.23 during midday trading on Tuesday, hitting $26.94. The company had a trading volume of 406,295 shares, compared to its average volume of 433,609. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $28.05 and a two-hundred day simple moving average of $26.29. Veritex has a twelve month low of $18.08 and a twelve month high of $31.62. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 17.27 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 11.11% and a return on equity of 7.79%. Equities research analysts anticipate that Veritex will post 2.17 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on VBTX shares. Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler upped their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. DA Davidson boosted their price target on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Buying and Selling at Veritex

In other news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.60% of the company’s stock.

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.