VersaBank (TSE:VBNK) Releases Quarterly Earnings Results

VersaBank (TSE:VBNK) posted its quarterly earnings data on Wednesday. The company reported C$0.39 earnings per share (EPS) for the quarter, FiscalAI reports. VersaBank had a net margin of 10.04% and a return on equity of 5.89%. The firm had revenue of C$38.29 million for the quarter.

VersaBank Stock Up 9.9%

Shares of TSE VBNK opened at C$27.57 on Thursday. The business’s 50 day moving average price is C$23.26 and its 200 day moving average price is C$21.27. The firm has a market cap of C$886.84 million, a P/E ratio of 28.42 and a beta of 1.59. VersaBank has a 52 week low of C$13.92 and a 52 week high of C$28.80.

VersaBank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.025 per share. The ex-dividend date was Friday, April 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.4%. VersaBank’s dividend payout ratio is 10.31%.

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.