VersaBank (TSE:VBNK) Shares Down 2.2% – Here’s What Happened

VersaBank (TSE:VBNK) fell 2.2% during mid-day trading on Monday . The stock traded as low as C$22.28 and last traded at C$22.52. 16,001 shares were traded during mid-day trading, a decline of 43% from the average session volume of 27,997 shares. The stock had previously closed at C$23.03.

VersaBank Stock Down 2.2%

The stock has a market cap of C$719.42 million, a P/E ratio of 25.02 and a beta of 1.52. The business has a 50 day moving average price of C$21.42 and a 200 day moving average price of C$18.25.

VersaBank (TSE:VBNK) last issued its quarterly earnings results on Wednesday, December 10th. The company reported C$0.33 earnings per share (EPS) for the quarter. The firm had revenue of C$35.09 million during the quarter. VersaBank had a return on equity of 9.95% and a net margin of 19.94%. On average, research analysts expect that VersaBank will post 1.6945127 earnings per share for the current fiscal year.

About VersaBank

VersaBank, a Canadian Schedule I chartered bank, became the world’s first fully digital financial institution when it adopted its highly efficient business-to-business model using proprietary state-of-the art financial technology to profitably address underserved markets in pursuit of superior net interest margins while mitigating risk. It obtains all deposits and provides the majority of loans and leases electronically. Leveraging internally developed IT security software, VersaBank established Washington, DC based subsidiary, DRT Cyber Inc, to pursue large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.