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

Veritex Holdings, Inc. (NASDAQ:VBTX) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.20 per share by the financial services provider on Friday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%.

Veritex has increased its dividend by an average of 2.6% per year over the last three years. Veritex has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Veritex to earn $2.24 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 35.7%.

Veritex Stock Up 0.9 %

Shares of NASDAQ VBTX opened at $26.94 on Wednesday. The firm’s 50 day moving average price is $28.05 and its 200 day moving average price is $26.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $1.47 billion, a P/E ratio of 17.27 and a beta of 1.38. Veritex has a 1 year low of $18.08 and a 1 year high of $31.62.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a return on equity of 7.79% and a net margin of 11.11%. As a group, sell-side analysts anticipate that Veritex will post 2.17 earnings per share for the current year.

Insider Transactions at Veritex

In related news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

VBTX has been the subject of several recent analyst reports. DA Davidson lifted their price target on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

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.