Veritex Holdings said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of May 10, 2023 to qualify for the dividend. Shareholders of record as of May 11, 2023 will receive the payment on May 25, 2023.
At the current share price of $17.43 / share, the stock's dividend yield is 4.59%. Looking back five years and taking a sample every week, the average dividend yield has been 2.66%, the lowest has been 1.71%, and the highest has been 6.18%. The standard deviation of yields is 0.82 (n=237).
The current dividend yield is 2.36 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.29. 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.
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What is the Fund Sentiment?
There are 525 funds or institutions reporting positions in Veritex Holdings. This is an increase of 2 owner(s) or 0.38% in the last quarter. Average portfolio weight of all funds dedicated to VBTX is 0.16%, a decrease of 23.37%. Total shares owned by institutions decreased in the last three months by 0.76% to 54,723K shares. 
The put/call ratio of VBTX is 1.82, indicating a bearish outlook.
Analyst Price Forecast Suggests 53.32% Upside
As of April 24, 2023, the average one-year price target for Veritex Holdings is 26.72. The forecasts range from a low of 21.21 to a high of $34.65. The average price target represents an increase of 53.32% from its latest reported closing price of 17.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Veritex Holdings is 518MM, an increase of 27.02%. The projected annual non-GAAP EPS is 3.74.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,748K shares representing 6.91% ownership of the company. No change in the last quarter.
T. Rowe Price Investment Management holds 3,561K shares representing 6.57% ownership of the company. In it's prior filing, the firm reported owning 3,508K shares, representing an increase of 1.48%. The firm increased its portfolio allocation in VBTX by 2.95% over the last quarter.
American Century Companies holds 2,267K shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 2,598K shares, representing a decrease of 14.62%. The firm decreased its portfolio allocation in VBTX by 99.91% over the last quarter.
Westwood Holdings Group holds 2,006K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 1,913K shares, representing an increase of 4.65%. The firm decreased its portfolio allocation in VBTX by 17.48% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,815K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 1,925K shares, representing a decrease of 6.06%. The firm decreased its portfolio allocation in VBTX by 6.08% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
