VersaBank (TSE:VBNK) Stock Price Down 1.4% – Here’s Why

VersaBank (TSE:VBNK)’s stock price traded down 1.4% on Thursday . The stock traded as low as C$14.25 and last traded at C$14.30. 23,906 shares were traded during mid-day trading, a decline of 31% from the average session volume of 34,634 shares. The stock had previously closed at C$14.50.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their target price on shares of VersaBank from C$27.00 to C$22.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th.

VersaBank Stock Performance

The firm has a market capitalization of C$462.75 million, a P/E ratio of 9.30 and a beta of 1.07. The business has a fifty day moving average of C$17.65 and a 200-day moving average of C$19.58.

VersaBank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were paid a $0.025 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.70%. VersaBank’s payout ratio is 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.