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

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Thursday, September 3rd. Shareholders of record on Friday, October 9th will be paid a dividend of 0.025 per share on Saturday, October 31st. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, October 9th.

VersaBank has a payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect VersaBank to earn $1.95 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 3.6%.

VersaBank Price Performance

NASDAQ VBNK traded up $1.31 on Thursday, reaching $20.59. The company had a trading volume of 424,245 shares, compared to its average volume of 81,842. The firm has a market cap of $665.61 million, a price-to-earnings ratio of 29.84 and a beta of 1.06. The business has a 50 day moving average of $20.31 and a two-hundred day moving average of $18.07. VersaBank has a fifty-two week low of $11.15 and a fifty-two week high of $25.05.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). VersaBank had a return on equity of 8.32% and a net margin of 9.34%. As a group, research analysts predict that VersaBank will post 1.29 earnings per share for the current fiscal 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.