Veritex Holdings, Inc. (NASDAQ:VBTX) to Issue Quarterly Dividend of $0.20

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Friday, November 8th will be paid 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 2.64%. The ex-dividend date of this dividend is Friday, November 8th.

Veritex has raised its dividend payment 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. Research 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

Veritex stock opened at $30.34 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. Veritex has a one year low of $17.43 and a one year high of $30.64. The stock’s 50 day moving average price is $25.97 and its 200 day moving average price is $23.08. The firm has a market capitalization of $1.65 billion, a PE ratio of 19.45 and a beta of 1.36.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same period last year, the business earned $0.60 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Veritex will post 2.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly 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 filing with the SEC, which is accessible through the SEC website. 4.60% of the stock is owned by insiders.

Analysts Set New Price Targets

VBTX has been the topic of a number of research analyst reports. Stephens increased their price objective on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, September 17th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, DA Davidson boosted their target price on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.