VersaBank (VBNK) To Go Ex-Dividend on July 10th

VersaBank (NASDAQ:VBNK) announced a quarterly dividend on Tuesday, June 2nd. Investors of record on Friday, July 10th will be given a dividend of 0.025 per share on Friday, July 31st. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, July 10th.

VersaBank has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 opened at $21.73 on Wednesday. The firm has a 50-day moving average of $19.07 and a two-hundred day moving average of $16.76. The stock has a market cap of $699.71 million, a P/E ratio of 31.49 and a beta of 1.04. VersaBank has a 1-year low of $10.10 and a 1-year high of $25.05.

VersaBank (NASDAQ:VBNK) last announced its earnings results on Wednesday, June 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. VersaBank had a return on equity of 8.32% and a net margin of 9.34%.The business had revenue of $28.17 million for the quarter, compared to analyst estimates of $26.86 million. As a group, equities analysts expect that VersaBank will post 1.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

VBNK has been the topic of several analyst reports. Roth Capital upgraded VersaBank from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $25.00 in a report on Tuesday, June 30th. Zacks Research upgraded VersaBank from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded shares of VersaBank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, VersaBank currently has an average rating of “Hold” and an average target price of $25.00.

VersaBank Company Profile

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.