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 given 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 2.87%. The ex-dividend date is Friday, November 8th.

Veritex has raised its dividend by an average of 5.6% per year over the last three years. Veritex has a payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NASDAQ VBTX opened at $27.88 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46. The firm has a market capitalization of $1.52 billion, a P/E ratio of 17.87 and a beta of 1.37. The business’s 50-day simple moving average is $25.18 and its 200-day simple moving average is $22.54.

Veritex (NASDAQ:VBTX) last announced its quarterly 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 7.88%. 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 posted $0.60 earnings per share. Veritex’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Veritex will post 2.13 EPS for the current year.

Analysts Set New Price Targets

VBTX has been the subject of a number of research reports. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday. Stephens raised their target price on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Piper Sandler upped their price target on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.