VersaBank (TSE:VBNK) Shares Down 0.8% – Here’s What Happened

VersaBank (TSE:VBNK)’s share price was down 0.8% during trading on Tuesday . The stock traded as low as C$19.02 and last traded at C$19.02. Approximately 8,268 shares traded hands during trading, a decline of 74% from the average daily volume of 32,399 shares. The stock had previously closed at C$19.17.

VersaBank Price Performance

The firm’s fifty day moving average price is C$21.55 and its 200-day moving average price is C$18.94. The firm has a market capitalization of C$609.95 million, a P/E ratio of 19.61 and a beta of 1.45.

VersaBank (TSE:VBNK) last announced its earnings results on Tuesday, March 3rd. The company reported C$0.38 EPS for the quarter. The firm had revenue of C$36.51 million for the quarter. VersaBank had a return on equity of 5.89% and a net margin of 10.04%. Analysts expect that VersaBank will post 1.6945127 earnings per share for the current 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.