VersaBank (TSE:VBNK) Given New C$22.00 Price Target at Keefe, Bruyette & Woods

VersaBank (TSE:VBNK - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from C$27.00 to C$22.00 in a research note published on Thursday morning,BayStreet.CA reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

VersaBank Trading Down 4.6 %

VersaBank stock traded down C$0.70 on Thursday, hitting C$14.37. 39,380 shares of the stock traded hands, compared to its average volume of 36,658. The firm has a market cap of C$465.02 million, a P/E ratio of 9.34 and a beta of 1.07. The business's fifty day simple moving average is C$18.94 and its 200 day simple moving average is C$19.87. VersaBank has a 1 year low of C$12.94 and a 1 year high of C$25.75.

VersaBank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, January 10th. VersaBank's dividend payout ratio is currently 6.50%.

About VersaBank

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.