VersaBank (TSE:VBNK) Stock Price Down 1% - What's Next?

VersaBank (TSE:VBNK - Get Free Report) shares dropped 1% during mid-day trading on Wednesday . The stock traded as low as C$18.63 and last traded at C$19.06. Approximately 55,376 shares traded hands during trading, an increase of 93% from the average daily volume of 28,746 shares. The stock had previously closed at C$19.26.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price target on shares of VersaBank from C$22.00 to C$28.00 in a research note on Wednesday, December 4th.

VersaBank Price Performance

The firm's 50-day moving average price is C$19.50 and its 200-day moving average price is C$19.78. The company has a market cap of C$585.72 million, a price-to-earnings ratio of 11.77 and a beta of 1.07.

VersaBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, January 10th. VersaBank's 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.