Veritex Holdings, Inc. (NASDAQ:VBTX) Increases Dividend to $0.22 Per Share

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Thursday, May 8th will be given a dividend of 0.22 per share by the financial services provider on Thursday, May 22nd. This represents a $0.88 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, May 8th. This is a 10.0% increase from Veritex's previous quarterly dividend of $0.20.

Veritex has raised its dividend by an average of 2.6% annually over the last three years. Veritex has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Veritex to earn $2.45 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 32.7%.

Veritex Stock Performance

VBTX traded up $0.17 during trading on Friday, hitting $23.30. The stock had a trading volume of 129,852 shares, compared to its average volume of 395,793. The firm has a market cap of $1.27 billion, a PE ratio of 11.96 and a beta of 1.11. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. Veritex has a 12 month low of $18.74 and a 12 month high of $31.62. The company has a 50 day simple moving average of $23.87 and a 200-day simple moving average of $26.42.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $109.73 million for the quarter, compared to analyst estimates of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Analysts expect that Veritex will post 2.26 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price objective on Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a research report on Thursday. Raymond James downgraded shares of Veritex from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Stephens reissued an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a research report on Wednesday. DA Davidson lowered their price objective on Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price target on the stock in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.25.

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.