VersaBank (NASDAQ:VBNK - Get Free Report) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.025 per share on Wednesday, April 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, April 4th. This is a 41.2% increase from VersaBank's previous quarterly dividend of $0.02.
VersaBank has a payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect VersaBank to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 3.1%.
VersaBank Price Performance
Shares of VBNK stock traded down $0.15 during trading hours on Friday, hitting $10.52. The company had a trading volume of 193,891 shares, compared to its average volume of 104,541. VersaBank has a fifty-two week low of $9.48 and a fifty-two week high of $18.38. The company's fifty day moving average is $13.27 and its 200 day moving average is $14.19. The stock has a market capitalization of $342.10 million, a PE ratio of 9.56 and a beta of 0.93.
VersaBank (NASDAQ:VBNK - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. Equities analysts forecast that VersaBank will post 1.46 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on VBNK shares. Roth Mkm downgraded shares of VersaBank from a "buy" rating to a "neutral" rating and cut their target price for the stock from $22.00 to $10.40 in a research note on Thursday. Roth Capital downgraded shares of VersaBank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday.
View Our Latest Analysis on VBNK
About VersaBank
(
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.
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