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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Thursday, May 8th will be given a dividend of 0.22 per share by the financial services provider on Thursday, May 22nd. This represents a $0.88 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, May 8th. This is a 10.0% increase from Veritex's previous quarterly dividend of $0.20.

Veritex has raised its dividend by an average of 2.6% per year over the last three years. Veritex has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Veritex to earn $2.45 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 32.7%.

Veritex Stock Up 0.7 %

VBTX traded up $0.17 during mid-day trading on Friday, reaching $23.30. 422,739 shares of the stock were exchanged, compared to its average volume of 393,299. Veritex has a 1 year low of $18.74 and a 1 year high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $1.27 billion, a PE ratio of 11.95 and a beta of 1.11. The company has a 50 day moving average price of $23.81 and a two-hundred day moving average price of $26.42.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $109.73 million for the quarter, compared to analysts' expectations of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, research analysts anticipate that Veritex will post 2.26 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on VBTX. DA Davidson decreased their price target on Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday. Raymond James lowered shares of Veritex from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday. Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price for the company in a research report on Thursday, January 30th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.25.

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.