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VersaBank (NASDAQ:VBNK) Issues Quarterly Earnings Results

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VersaBank (NASDAQ:VBNK - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09), Zacks reports. The business had revenue of $19.15 million during the quarter, compared to the consensus estimate of $21.37 million. VersaBank had a return on equity of 11.20% and a net margin of 13.52%.

VersaBank Stock Down 1.4 %

Shares of NASDAQ VBNK traded down $0.15 during midday trading on Friday, hitting $10.52. 193,891 shares of the company's stock were exchanged, compared to its average volume of 104,541. The company's 50 day moving average price is $13.27 and its 200 day moving average price is $14.19. The firm has a market capitalization of $342.10 million, a PE ratio of 9.56 and a beta of 0.93. VersaBank has a 12 month low of $9.48 and a 12 month high of $18.38.

VersaBank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.025 per share. This is an increase from VersaBank's previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, April 4th. VersaBank's payout ratio is currently 6.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VBNK. Roth Capital cut VersaBank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Roth Mkm cut VersaBank from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $22.00 to $10.40 in a report on Thursday.

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Get Our Latest Stock Analysis on VersaBank

VersaBank Company Profile

(Get Free Report)

VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products. The company also provides lending services, including point of sale financing that covers purchasing loan and lease receivables from finance companies operating in various industries; commercial banking services comprising commercial real estate, public sector/infrastructure financing, and condominium financing; and residential mortgages.

See Also

Earnings History for VersaBank (NASDAQ:VBNK)

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