VersaBank (NASDAQ:VBNK – Get Free Report) declared a quarterly dividend on Thursday, September 5th, Zacks reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.018 per share on Thursday, October 31st. This represents a $0.07 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, October 4th.
VersaBank has a payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect VersaBank to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 4.1%.
VersaBank Stock Performance
Shares of NASDAQ VBNK opened at $13.28 on Wednesday. The company’s 50-day moving average price is $12.46 and its 200 day moving average price is $11.09. VersaBank has a 52 week low of $7.24 and a 52 week high of $14.22. The stock has a market cap of $344.75 million, a price-to-earnings ratio of 10.06 and a beta of 0.79.
Analysts Set New Price Targets
A number of equities research analysts have commented on VBNK shares. Keefe, Bruyette & Woods initiated coverage on VersaBank in a report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 target price on the stock. Roth Mkm started coverage on VersaBank in a research report on Friday, September 27th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Roth Capital raised shares of VersaBank to a “strong-buy” rating in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.67.
Get Our Latest Analysis on VBNK
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.
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