VersaBank (TSE:VBNK) Trading Down 10.1% – Here’s Why

Shares of VersaBank (TSE:VBNK) fell 10.1% during mid-day trading on Wednesday . The stock traded as low as C$15.21 and last traded at C$15.60. 105,626 shares changed hands during mid-day trading, an increase of 260% from the average session volume of 29,380 shares. The stock had previously closed at C$17.36.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on shares of VersaBank from C$22.00 to C$28.00 in a research report on Wednesday, December 4th.

VersaBank Stock Performance

The firm’s fifty day simple moving average is C$19.29 and its 200 day simple moving average is C$19.92. The stock has a market capitalization of C$486.05 million, a price-to-earnings ratio of 9.77 and a beta of 1.07.

VersaBank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were given a dividend of $0.025 per share. The ex-dividend date was Friday, January 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. VersaBank’s dividend payout ratio is currently 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.