Veritex Holdings (VBTX) Declares $0.20 Dividend
Veritex Holdings said on January 24, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of February 9, 2023 will receive the payment on February 24, 2023. Previously, the company paid $0.20 per share.
At the current share price of $27.14 / share, the stock's dividend yield is 2.95%. Looking back five years and taking a sample every week, the average dividend yield has been 2.54%, the lowest has been 1.71%, and the highest has been 6.18%. The standard deviation of yields is 0.81 (n=190).
The current dividend yield is 0.51 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 43.57% Upside
As of January 31, 2023, the average one-year price target for Veritex Holdings is $38.96. The forecasts range from a low of $33.33 to a high of $46.20. The average price target represents an increase of 43.57% from its latest reported closing price of $27.14.
The projected annual revenue for Veritex Holdings is $518MM, an increase of 32.85%. The projected annual EPS is $3.74, an increase of 35.97%.
Fund Sentiment
There are 522 funds or institutions reporting positions in Veritex Holdings. This is unchanged over the last quarter.
Average portfolio weight of all funds dedicated to US:VBTX is 0.2101%, a decrease of 5.5828%. Total shares owned by institutions decreased in the last three months by 0.34% to 55,172K shares.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,748,074 shares representing 6.94% ownership of the company. No change in the last quarter.
T. Rowe Price Investment Management holds 3,508,462 shares representing 6.49% ownership of the company.
American Century Companies holds 2,598,033 shares representing 4.81% ownership of the company. In it's prior filing, the firm reported owning 2,617,141 shares, representing a decrease of 0.74%. The firm decreased its portfolio allocation in VBTX by 2.94% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,925,000 shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 1,855,000 shares, representing an increase of 3.64%. The firm increased its portfolio allocation in VBTX by 1.16% over the last quarter.
Westwood Holdings Group holds 1,912,946 shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 1,769,130 shares, representing an increase of 7.52%. The firm increased its portfolio allocation in VBTX by 6.21% over the last quarter.
Veritex Holdings Background Information
(This description is provided by the company.)
Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System.
This story originally appeared on Fintel.