VersaBank (TSE:VBNK) Stock Price Down 1.4% – Here’s What Happened

VersaBank (TSE:VBNK) shares fell 1.4% on Thursday . The stock traded as low as C$14.25 and last traded at C$14.30. 23,906 shares traded hands during trading, a decline of 31% from the average session volume of 34,634 shares. The stock had previously closed at C$14.50.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price target on shares of VersaBank from C$27.00 to C$22.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th.

VersaBank Stock Performance

The stock has a market capitalization of C$456.93 million, a PE ratio of 9.18 and a beta of 1.07. The stock’s 50-day moving average price is C$17.54 and its two-hundred day moving average price is C$19.54.

VersaBank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. VersaBank’s dividend payout ratio is 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.