VersaBank (VBNK) To Go Ex-Dividend on October 4th

VersaBank (NASDAQ:VBNK) announced a quarterly dividend on Thursday, September 5th, Zacks reports. Shareholders of record on Friday, October 4th will be given a dividend of 0.018 per share on Thursday, October 31st. This represents a $0.07 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, October 4th.

VersaBank has a payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Equities 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

VersaBank stock opened at $13.28 on Wednesday. The business has a 50 day simple moving average of $12.46 and a 200-day simple moving average of $11.09. VersaBank has a 12 month low of $7.24 and a 12 month high of $14.22. The stock has a market capitalization of $344.75 million, a PE ratio of 10.06 and a beta of 0.79.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.08). VersaBank had a net margin of 16.24% and a return on equity of 11.85%. The firm had revenue of $19.72 million during the quarter, compared to analyst estimates of $21.83 million. As a group, equities research analysts anticipate that VersaBank will post 1.23 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on VBNK. Roth Capital upgraded shares of VersaBank to a “strong-buy” rating in a research report on Friday, September 27th. Roth Mkm initiated coverage on VersaBank in a report on Friday, September 27th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Keefe, Bruyette & Woods assumed coverage on VersaBank in a report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.67.

VersaBank Company Profile

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.