Veritex Holdings, Inc. (VBTX) to Issue Quarterly Dividend of $0.20 on May 24th

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 3.89%. The ex-dividend date is Thursday, May 9th.

Veritex has raised its dividend by an average of 5.6% per year over the last three years. Veritex has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

VBTX traded down $0.22 during trading hours on Thursday, hitting $20.57. The stock had a trading volume of 42,948 shares, compared to its average volume of 423,080. The company’s fifty day simple moving average is $19.87 and its 200 day simple moving average is $20.28. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The stock has a market cap of $1.12 billion, a PE ratio of 12.09 and a beta of 1.34. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

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). The company had revenue of $191.25 million for the quarter, compared to analysts’ expectations of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.51%. During the same period in the previous year, the firm earned $0.79 EPS. Equities analysts anticipate that Veritex will post 2.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on VBTX. Stephens reaffirmed an “equal weight” rating and set a $24.00 target price on shares of Veritex in a report on Wednesday. Keefe, Bruyette & Woods reduced their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Piper Sandler lifted their target price on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday. Finally, StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.38.

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.