VersaBank (NASDAQ:VBNK) Plans C$0.03 Quarterly Dividend
by Sarita Garza · The Markets DailyVersaBank (NASDAQ:VBNK – Get Free Report) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Friday, April 10th will be paid a dividend of 0.025 per share on Thursday, April 30th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, April 10th.
VersaBank has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance
Shares of NASDAQ:VBNK opened at $14.54 on Wednesday. VersaBank has a 52-week low of $8.55 and a 52-week high of $17.47. The company has a market capitalization of $466.30 million, a P/E ratio of 20.77 and a beta of 0.99. The company has a 50-day simple moving average of $15.26 and a 200 day simple moving average of $13.93.
VersaBank (NASDAQ:VBNK – Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. VersaBank had a net margin of 10.03% and a return on equity of 7.70%. The business had revenue of $26.80 million during the quarter, compared to the consensus estimate of $26.92 million. As a group, equities analysts forecast that VersaBank will post 1.46 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on VBNK. Roth Mkm raised their target price on shares of VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of VersaBank in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded shares of VersaBank from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.00.
View Our Latest Stock Analysis on VersaBank
VersaBank Company Profile
VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.
The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.