VersaBank (TSE:VBNK) Hits New 1-Year High – Still a Buy?

VersaBank (TSE:VBNK) shares hit a new 52-week high on Monday . The stock traded as high as C$29.09 and last traded at C$28.96, with a volume of 88133 shares traded. The stock had previously closed at C$27.29.

VersaBank Price Performance

The company’s 50-day simple moving average is C$25.81 and its 200 day simple moving average is C$22.72. The firm has a market cap of C$1.06 billion, a P/E ratio of 35.11 and a beta of 1.72.

VersaBank (TSE:VBNK) last posted its earnings results on Wednesday, June 3rd. The company reported C$0.39 earnings per share for the quarter. The firm had revenue of C$38.29 million for the quarter. VersaBank had a net margin of 9.34% and a return on equity of 5.64%. Analysts anticipate that VersaBank will post 1.6945127 EPS for the current fiscal year.

VersaBank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 31st will be given a $0.025 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.10 annualized dividend and a yield of 0.3%. VersaBank’s dividend payout ratio (DPR) is currently 10.64%.

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.