VersaBank to Issue Quarterly Dividend of $0.02 (NASDAQ:VBNK)

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Tuesday, June 4th, Zacks reports. Stockholders of record on Friday, July 5th will be given a dividend of 0.018 per share on Wednesday, July 31st. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, July 5th.

VersaBank has a dividend payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect VersaBank to earn $1.70 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 4.1%.

VersaBank Price Performance

NASDAQ:VBNK opened at $10.68 on Wednesday. The firm has a market cap of $277.30 million, a price-to-earnings ratio of 8.09 and a beta of 0.77. VersaBank has a 1-year low of $7.24 and a 1-year high of $12.19. The firm’s fifty day moving average price is $10.09 and its 200 day moving average price is $10.58.

VersaBank (NASDAQ:VBNK) last issued its quarterly earnings results on Wednesday, June 5th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $21.01 million for the quarter, compared to analyst estimates of $21.54 million. VersaBank had a net margin of 17.02% and a return on equity of 12.26%. As a group, analysts expect that VersaBank will post 1.4 earnings per share for the current fiscal year.

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.