VersaBank (VBNK) to Release Quarterly Earnings on Thursday

VersaBank (NASDAQ:VBNK) is scheduled to announce its earnings results before the market opens on Thursday, September 5th. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

VersaBank (NASDAQ:VBNK) last announced its earnings results on Wednesday, June 5th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $21.01 million for the quarter, compared to analyst estimates of $21.54 million. VersaBank had a net margin of 17.02% and a return on equity of 12.26%. On average, analysts expect VersaBank to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

VersaBank Price Performance

NASDAQ VBNK opened at $12.96 on Thursday. The company’s fifty day moving average is $11.48 and its two-hundred day moving average is $10.76. VersaBank has a 52-week low of $7.24 and a 52-week high of $13.41. The firm has a market capitalization of $336.44 million, a price-to-earnings ratio of 9.82 and a beta of 0.77.

VersaBank Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a $0.018 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, July 5th. VersaBank’s payout ratio is presently 5.30%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods initiated coverage on VersaBank in a research note on Tuesday. They set an “outperform” rating and a $22.00 price target on the stock.

About VersaBank

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.