Veritex Holdings Inc Plans Quarterly Dividend of $0.17 (NASDAQ:VBTX)

Veritex Holdings Inc (NASDAQ:VBTX) declared a quarterly dividend on Tuesday, July 28th, Fidelity reports. Investors of record on Thursday, August 6th will be paid a dividend of 0.17 per share by the financial services provider on Thursday, August 20th. This represents a $0.68 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Wednesday, August 5th.

Veritex has a payout ratio of 47.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Veritex to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 40.5%.

Shares of Veritex stock traded down $0.90 on Thursday, reaching $16.65. 1,574 shares of the stock were exchanged, compared to its average volume of 215,185. The firm has a market capitalization of $834.29 million, a price-to-earnings ratio of 10.77 and a beta of 1.91. The business has a 50 day moving average price of $17.01 and a two-hundred day moving average price of $19.54. Veritex has a twelve month low of $10.02 and a twelve month high of $29.41. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.32.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $87.05 million during the quarter, compared to analysts’ expectations of $76.10 million. Veritex had a return on equity of 7.13% and a net margin of 21.27%. Research analysts forecast that Veritex will post 1.41 EPS for the current year.

In other news, Director Steven D. Lerner sold 4,575 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $20.41, for a total value of $93,375.75. Following the transaction, the director now owns 35,644 shares of the company’s stock, valued at approximately $727,494.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.33% of the stock is owned by insiders.

A number of research firms have weighed in on VBTX. Zacks Investment Research raised Veritex from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. BidaskClub cut shares of Veritex from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Finally, Raymond James restated an “outperform” rating and set a $22.00 price objective (up from $19.00) on shares of Veritex in a research report on Thursday, April 30th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Veritex currently has a consensus rating of “Hold” and an average price target of $29.33.

Veritex Company Profile

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

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Dividend History for Veritex (NASDAQ:VBTX)

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