Keefe, Bruyette & Woods Issues Pessimistic Forecast for VersaBank (TSE:VBNK) Stock Price

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

VersaBank Stock Performance

VersaBank stock opened at C$15.05 on Thursday. VersaBank has a one year low of C$12.94 and a one year high of C$25.75. The company has a 50-day simple moving average of C$19.21 and a 200-day simple moving average of C$19.90. The firm has a market capitalization of C$487.03 million, a P/E ratio of 9.79 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 dividend of $0.025 per share. The ex-dividend date was Friday, January 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.66%. VersaBank’s dividend payout ratio is presently 6.50%.

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.