VersaBank (TSE:VBNK) Trading Up 1.4% – Time to Buy?

VersaBank (TSE:VBNK)’s share price was up 1.4% during trading on Wednesday . The stock traded as high as C$16.21 and last traded at C$15.41. Approximately 27,491 shares changed hands during trading, a decline of 22% from the average daily volume of 35,231 shares. The stock had previously closed at C$15.19.

Analyst Ratings Changes

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

VersaBank Stock Performance

The firm’s 50 day moving average price is C$15.27 and its 200-day moving average price is C$19.00. The firm has a market capitalization of C$498.67 million, a PE ratio of 10.02 and a beta of 1.07.

VersaBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, April 4th. VersaBank’s payout ratio is currently 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.