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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Investors of record on Thursday, August 7th will be given a dividend of 0.22 per share by the financial services provider on Thursday, August 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, August 7th.

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 Price Performance

Shares of NASDAQ VBTX traded up $0.19 during trading on Monday, hitting $32.44. The company had a trading volume of 962,275 shares, compared to its average volume of 471,038. The company has a market cap of $1.76 billion, a P/E ratio of 15.45 and a beta of 1.03. Veritex has a 52 week low of $20.10 and a 52 week high of $33.69. The business's 50-day moving average is $26.00 and its 200 day moving average is $25.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.59%. The firm had revenue of $109.83 million for the quarter, compared to analysts' expectations of $110.91 million. During the same period in the previous year, the company posted $0.52 EPS. Equities research analysts predict that Veritex will post 2.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veritex

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in shares of Veritex by 451.0% during the first quarter. Jane Street Group LLC now owns 115,022 shares of the financial services provider's stock worth $2,872,000 after acquiring an additional 94,148 shares during the period. Intech Investment Management LLC raised its holdings in shares of Veritex by 24.5% during the first quarter. Intech Investment Management LLC now owns 46,022 shares of the financial services provider's stock worth $1,149,000 after acquiring an additional 9,055 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Veritex by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,225 shares of the financial services provider's stock valued at $780,000 after buying an additional 1,362 shares during the last quarter. Strs Ohio acquired a new stake in Veritex in the 1st quarter valued at $135,000. Finally, Acadian Asset Management LLC acquired a new stake in Veritex in the 1st quarter valued at $28,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James Financial cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company 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, July 14th. DA Davidson decreased their price target on shares of Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. Finally, Stephens restated an "equal weight" rating and set a $30.00 price target on shares of Veritex in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.92.

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.