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

Veritex Holdings, Inc. (NASDAQ:VBTX) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.20 per share by the financial services provider on Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, August 9th.

Veritex has increased its dividend by an average of 5.6% annually over the last three years. Veritex has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Veritex to earn $2.36 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 33.9%.

Veritex Price Performance

NASDAQ:VBTX opened at $23.97 on Thursday. The company has a market capitalization of $1.31 billion, a P/E ratio of 13.94 and a beta of 1.38. The business’s 50-day moving average is $21.06 and its 200 day moving average is $20.63. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.21. Veritex has a 12 month low of $15.93 and a 12 month high of $25.22.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a return on equity of 8.00% and a net margin of 11.52%. The firm had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, equities research analysts forecast that Veritex will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on VBTX. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Piper Sandler raised their price objective on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Stephens reissued an “equal weight” rating and set a $24.00 target price on shares of Veritex in a research report on Wednesday, April 24th.

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.