VersaBank (TSE:VBNK) Releases Earnings Results

VersaBank (TSE:VBNK) released its earnings results on Tuesday. The company reported C$0.38 earnings per share for the quarter, FiscalAI reports. VersaBank had a return on equity of 5.39% and a net margin of 9.36%.

VersaBank Stock Performance

VersaBank stock opened at C$23.20 on Wednesday. The company has a 50 day moving average price of C$21.74 and a 200-day moving average price of C$18.62. VersaBank has a fifty-two week low of C$12.18 and a fifty-two week high of C$23.73. The company has a market capitalization of C$741.15 million, a PE ratio of 25.78 and a beta of 1.52.

About VersaBank

VersaBank, a Canadian Schedule I chartered bank, became the world’s first fully digital financial institution when it adopted its highly efficient business-to-business model using proprietary state-of-the art financial technology to profitably address underserved markets in pursuit of superior net interest margins while mitigating risk. It obtains all deposits and provides the majority of loans and leases electronically. Leveraging internally developed IT security software, VersaBank established Washington, DC based subsidiary, DRT Cyber Inc, to pursue large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.