VersaBank (TSE:VBNK) Shares Up 12.9% – Should You Buy?

Shares of VersaBank (TSE:VBNK) were up 12.9% during trading on Tuesday . The stock traded as high as C$32.76 and last traded at C$32.69. Approximately 108,810 shares traded hands during trading, an increase of 263% from the average session volume of 29,995 shares. The stock had previously closed at C$28.96.

VersaBank Price Performance

The firm has a market capitalization of C$1.05 billion, a P/E ratio of 34.65 and a beta of 1.72. The firm’s 50 day simple moving average is C$25.58 and its two-hundred day simple moving average is C$22.61.

VersaBank (TSE:VBNK) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported C$0.39 earnings per share (EPS) for the quarter. VersaBank had a net margin of 9.34% and a return on equity of 5.64%. The business had revenue of C$38.29 million during the quarter. As a group, equities research analysts forecast that VersaBank will post 1.6945127 EPS for the current year.

VersaBank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 30th were issued a dividend of $0.025 per share. The ex-dividend date was Friday, April 10th. This represents a $0.10 annualized dividend and a yield of 0.3%. VersaBank’s dividend payout ratio is currently 10.64%.

VersaBank Company Profile

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.