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

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 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 9th.

Veritex has increased its dividend payment by an average of 5.6% annually over the last three years. Veritex has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Veritex to earn $2.34 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 34.2%.

Veritex Stock Down 1.4 %

NASDAQ VBTX traded down $0.30 on Thursday, hitting $20.49. 21,917 shares of the company were exchanged, compared to its average volume of 422,889. The company has a market cap of $1.12 billion, a PE ratio of 12.09 and a beta of 1.34. Veritex has a 12 month low of $14.88 and a 12 month high of $24.46. The stock has a fifty day moving average of $19.87 and a 200-day moving average of $20.28. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data 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 net margin of 12.47% and a return on equity of 8.51%. The business had revenue of $191.25 million during the quarter, compared to the consensus estimate of $109.70 million. During the same period last year, the business posted $0.79 earnings per share. As a group, analysts forecast that Veritex will post 2.24 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com downgraded shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Stephens reiterated an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.