Veritex Holdings, Inc. (VBTX) To Go Ex-Dividend on November 8th

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.20 per share by the financial services provider on Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, November 8th.

Veritex has raised its dividend payment by an average of 5.6% per year over the last three years. Veritex has a dividend payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Veritex to earn $2.25 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 35.6%.

Veritex Stock Performance

VBTX stock opened at $26.85 on Wednesday. The business has a 50 day moving average of $25.86 and a 200-day moving average of $23.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a 12-month low of $17.43 and a 12-month high of $28.46. The firm has a market cap of $1.46 billion, a PE ratio of 17.21 and a beta of 1.36.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Veritex will post 2.14 earnings per share for the current year.

Insider Activity at Veritex

In related news, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the transaction, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Stephens upped their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. DA Davidson increased their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler increased their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Veritex currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

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.