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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) announced a quarterly dividend on Friday, July 18th, RTT News reports. Stockholders of record on Thursday, August 7th will be paid a dividend of 0.22 per share by the financial services provider on Thursday, August 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.73%.

Veritex has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. 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 1.7%

NASDAQ VBTX traded down $0.55 during midday trading on Friday, hitting $32.25. 1,135,347 shares of the company traded hands, compared to its average volume of 468,810. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. Veritex has a 52 week low of $20.10 and a 52 week high of $33.69. The company has a market cap of $1.75 billion, a PE ratio of 15.81 and a beta of 1.03. The company's 50-day simple moving average is $25.83 and its 200-day simple moving average is $25.16.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Veritex had a net margin of 14.12% and a return on equity of 7.51%. During the same period in the previous year, the company posted $0.52 EPS. As a group, equities research analysts forecast that Veritex will post 2.26 earnings per share for the current year.

Institutional Trading of Veritex

A number of large investors have recently made changes to their positions in VBTX. Acadian Asset Management LLC acquired a new stake in Veritex in the 1st quarter valued at $28,000. Strs Ohio bought a new position in Veritex during the 1st quarter valued at $135,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Veritex by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,225 shares of the financial services provider's stock worth $780,000 after acquiring an additional 1,362 shares in the last quarter. Intech Investment Management LLC grew its stake in Veritex by 24.5% in the first quarter. Intech Investment Management LLC now owns 46,022 shares of the financial services provider's stock worth $1,149,000 after purchasing an additional 9,055 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Veritex by 451.0% in the first quarter. Jane Street Group LLC now owns 115,022 shares of the financial services provider's stock valued at $2,872,000 after buying an additional 94,148 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company's stock.

Analysts Set New Price Targets

VBTX has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Raymond James Financial lowered shares of Veritex from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. William Blair upgraded shares of Veritex to an "outperform" rating in a report on Monday. Stephens reissued an "equal weight" rating and issued a $30.00 target price on shares of Veritex in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group assumed coverage on Veritex in a research report on Monday. They set a "buy" rating for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.92.

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.