Veritex Holdings, Inc. (NASDAQ:VBTX) Declares 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 3.85%. The ex-dividend date 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. 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 Up 0.1 %

NASDAQ:VBTX opened at $20.79 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market cap of $1.13 billion, a PE ratio of 12.09 and a beta of 1.34. Veritex has a 52-week low of $14.88 and a 52-week high of $24.46. The stock has a 50-day simple moving average of $19.87 and a 200 day simple moving average of $20.28.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data 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). The firm had revenue of $191.25 million for the quarter, compared to the consensus estimate of $109.70 million. Veritex had a return on equity of 8.51% and a net margin of 12.47%. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, sell-side analysts expect that Veritex will post 2.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Stephens reiterated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Finally, Piper Sandler raised their price target on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.