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

Veritex Holdings, Inc. (NASDAQ:VBTX) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.20 per share by the financial services provider on Friday, February 28th. This represents a $0.80 annualized dividend and a yield of 2.97%.

Veritex has increased its dividend payment by an average of 2.6% per year over the last three years. Veritex has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Veritex to earn $2.24 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 35.7%.

Veritex Stock Up 0.9 %

VBTX stock opened at $26.94 on Wednesday. Veritex has a one year low of $18.08 and a one year high of $31.62. 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 company has a fifty day moving average of $28.05 and a 200-day moving average of $26.29. The stock has a market capitalization of $1.47 billion, a PE ratio of 17.27 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 11.11% and a return on equity of 7.79%. As a group, analysts expect that Veritex will post 2.17 EPS for the current year.

Insider Activity

In other Veritex news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the sale, the director now owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This represents a 21.17 % 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. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VBTX. Piper Sandler upped their price objective on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. DA Davidson raised their price objective 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. 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Veritex presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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.