VersaBank (TSE:VBNK) Announces $0.03 Quarterly Dividend

VersaBank (TSE:VBNK) announced 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 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, July 5th.

VersaBank Stock Up 2.0 %

VBNK opened at C$14.90 on Thursday. The stock has a market capitalization of C$386.80 million, a price-to-earnings ratio of 8.71 and a beta of 1.08. VersaBank has a twelve month low of C$9.80 and a twelve month high of C$16.49. The company has a 50-day simple moving average of C$13.82 and a 200 day simple moving average of C$14.35.

Analyst Upgrades and Downgrades

Separately, Raymond James reduced their price target on shares of VersaBank from C$13.00 to C$12.00 and set an “outperform” rating on the stock in a research report 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.