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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 9th.

Veritex has raised its dividend payment by an average of 5.6% per year over the last three years. Veritex has a dividend payout ratio of 34.5% indicating that 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 Price Performance

Shares of Veritex stock traded down $0.39 on Thursday, reaching $20.40. 1,264,098 shares of the stock were exchanged, compared to its average volume of 438,502. The firm's 50 day moving average is $19.86 and its 200-day moving average is $20.28. The firm has a market cap of $1.11 billion, a PE ratio of 11.86 and a beta of 1.34. Veritex has a one year low of $14.88 and a one year high of $24.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97.

Veritex (NASDAQ:VBTX - Get Free Report) last released 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 company had revenue of $191.25 million for the quarter, compared to analyst estimates 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 prior year, the company earned $0.79 earnings per share. As a group, analysts anticipate that Veritex will post 2.24 EPS for the current fiscal year.

Analyst Ratings Changes

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