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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders 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 yield of 2.92%. The ex-dividend date of this dividend is Friday, November 8th.

Veritex has increased its dividend payment by an average of 5.6% per year over the last three years. Veritex has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Veritex to earn $2.29 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 34.9%.

Veritex Stock Down 1.6 %

Shares of VBTX stock traded down $0.44 during trading hours on Thursday, reaching $27.44. 311,119 shares of the company's stock were exchanged, compared to its average volume of 403,694. Veritex has a 1 year low of $15.93 and a 1 year high of $28.46. The stock has a market cap of $1.50 billion, a PE ratio of 15.97 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average price is $25.18 and its two-hundred day moving average price is $22.54.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.88% and a net margin of 11.11%. The business had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. Research analysts predict that Veritex will post 2.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VBTX. Raymond James upgraded Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods downgraded Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday. Stephens boosted their price target on Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. StockNews.com downgraded Veritex from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, Piper Sandler boosted their price target on Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.