VersaBank (VBNK) To Go Ex-Dividend on April 4th

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.025 per share on Wednesday, April 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, April 4th. This is a 41.2% increase from VersaBank’s previous quarterly dividend of $0.02.

VersaBank has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect VersaBank to earn $2.23 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 3.1%.

VersaBank Trading Down 1.3 %

Shares of VBNK opened at $10.23 on Wednesday. The stock has a 50 day moving average of $12.11 and a 200 day moving average of $13.86. VersaBank has a 12 month low of $9.48 and a 12 month high of $18.38. The company has a market capitalization of $332.67 million, a price-to-earnings ratio of 9.30 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Roth Capital set a $10.40 target price on VersaBank in a research note on Thursday, March 6th. Raymond James reaffirmed an “outperform” rating on shares of VersaBank in a research report on Thursday, March 6th. Finally, Roth Mkm downgraded shares of VersaBank from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $10.40 in a research report on Thursday, March 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.