VersaBank (TSE:VBNK) Reaches New 52-Week High Following Dividend Announcement

VersaBank (TSE:VBNK) hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as C$23.87 and last traded at C$23.87, with a volume of 24394 shares. The stock had previously closed at C$22.99.

The newly announced dividend which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.4%. VersaBank’s dividend payout ratio (DPR) is currently 10.31%.

VersaBank Trading Up 1.8%

The company has a 50 day simple moving average of C$21.02 and a 200-day simple moving average of C$19.34. The stock has a market cap of C$750.41 million, a price-to-earnings ratio of 24.12 and a beta of 1.52.

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

VersaBank Company Profile

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.