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

Veritex Holdings, Inc. (NASDAQ:VBTX) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.20 per share by the financial services provider on Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Friday, November 8th.

Veritex has increased its dividend by an average of 5.6% annually over the last three years. Veritex has a payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Veritex to earn $2.25 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 35.6%.

Veritex Stock Performance

Shares of NASDAQ VBTX opened at $26.85 on Wednesday. The company has a market cap of $1.46 billion, a P/E ratio of 17.21 and a beta of 1.36. Veritex has a 52-week low of $17.43 and a 52-week high of $28.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s fifty day moving average is $25.86 and its two-hundred day moving average is $23.03.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The firm had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Veritex will post 2.14 EPS for the current fiscal year.

Insider Transactions at Veritex

In related news, CEO C Malcolm Holland III sold 12,777 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares in the company, valued at approximately $6,206,215.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Tuesday, September 17th. Stephens lifted their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. DA Davidson increased their price target on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Piper Sandler raised their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.40.

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.