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

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders 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 dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, May 9th.

Veritex has increased its dividend 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 Trading Down 1.1 %

Shares of VBTX stock traded down $0.22 on Thursday, hitting $20.57. The stock had a trading volume of 42,948 shares, compared to its average volume of 423,080. Veritex has a twelve month low of $14.88 and a twelve month high of $24.46. The firm has a market cap of $1.12 billion, a P/E ratio of 12.09 and a beta of 1.34. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $19.87 and a two-hundred day moving average price of $20.28.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) 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 firm had revenue of $191.25 million during the quarter, compared to the consensus estimate of $109.70 million. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, analysts forecast that Veritex will post 2.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VBTX. Keefe, Bruyette & Woods cut their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. StockNews.com downgraded shares of Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Stephens reaffirmed an “equal weight” rating and issued a $24.00 price target on shares of Veritex in a research note on Wednesday. Finally, Piper Sandler lifted their price target on shares of Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.