VersaBank Declares Quarterly Dividend of $0.03 (TSE:VBNK)

VersaBank (TSE:VBNK) declared a quarterly dividend on Friday, July 5th, TickerTech reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.025 per share on Wednesday, July 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, July 5th.

VersaBank Stock Performance

Shares of VBNK traded up C$0.25 during trading hours on Wednesday, hitting C$14.86. 17,550 shares of the stock were exchanged, compared to its average volume of 12,114. The stock’s 50-day moving average price is C$13.79 and its two-hundred day moving average price is C$14.35. VersaBank has a 12-month low of C$9.80 and a 12-month high of C$16.49. The company has a market cap of C$385.77 million, a price-to-earnings ratio of 8.53 and a beta of 1.08.

Analyst Ratings Changes

Separately, Raymond James dropped their price target on shares of VersaBank from C$13.00 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th.

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.