Veritex Holdings, Inc. Declares Quarterly Dividend of $0.22 (NASDAQ:VBTX)

Key Points

• Veritex Holdings, Inc. has declared a quarterly dividend of $0.22 per share, set to be paid on September 30th to investors of record on September 16th, reflecting an annualized yield of 2.6%.
• The company reported earnings of $0.56 per share for the latest quarter, surpassing analysts' expectations, although its revenue fell slightly short of projections.
• Despite a small drop in stock price to $33.99, Veritex maintains a solid financial position with a payout ratio of 37.0% and strong expected earnings growth for the coming year.

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) announced a quarterly dividend on Wednesday, September 3rd, RTT News reports. Investors of record on Tuesday, September 16th will be paid a dividend of 0.22 per share by the financial services provider on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%.

Veritex has a payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Veritex to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 35.9%.

Veritex Stock Down 0.3%

Veritex stock traded down $0.11 during midday trading on Wednesday, reaching $33.99. The company's stock had a trading volume of 831,755 shares, compared to its average volume of 577,553. The stock's 50-day simple moving average is $30.97 and its 200-day simple moving average is $26.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96. Veritex has a 52-week low of $20.37 and a 52-week high of $34.56. The stock has a market capitalization of $1.86 billion, a P/E ratio of 16.19 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The company had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. During the same period last year, the business posted $0.52 earnings per share. On average, sell-side analysts expect that Veritex will post 2.26 EPS for the current year.

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.

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