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

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, May 10th will be paid 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 yield of 3.94%. The ex-dividend date of this dividend is Thursday, May 9th.

Veritex has raised its dividend by an average of 5.6% annually over the last three years. Veritex has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NASDAQ VBTX opened at $20.32 on Wednesday. Veritex has a twelve month low of $14.88 and a twelve month high of $24.46. The company has a market cap of $1.11 billion, a PE ratio of 11.81 and a beta of 1.33. The business’s 50 day moving average price is $19.85 and its two-hundred day moving average price is $20.41. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.21.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). Veritex had a return on equity of 8.46% and a net margin of 12.47%. The business had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, analysts predict that Veritex will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

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

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.