VersaBank (NASDAQ:VBNK) Plans Quarterly Dividend of C$0.03

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Wednesday, March 4th. Shareholders of record on Friday, April 10th will be given a dividend of 0.025 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, April 10th.

VersaBank has a payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ:VBNK opened at $14.54 on Wednesday. The company has a fifty day moving average of $15.26 and a two-hundred day moving average of $13.93. The stock has a market capitalization of $466.30 million, a PE ratio of 20.77 and a beta of 0.99. VersaBank has a fifty-two week low of $8.55 and a fifty-two week high of $17.47.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $26.80 million during the quarter, compared to analysts’ expectations of $26.92 million. VersaBank had a net margin of 10.03% and a return on equity of 7.70%. Research analysts forecast that VersaBank will post 1.46 earnings per share for the current year.

About VersaBank

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.