VersaBank (TSE:VBNK) Stock Price Up 12.9% – Here’s What Happened

VersaBank (TSE:VBNK) rose 12.9% during mid-day trading on Tuesday . The company traded as high as C$32.76 and last traded at C$32.69. Approximately 108,810 shares traded hands during trading, an increase of 263% from the average session volume of 29,995 shares. The stock had previously closed at C$28.96.

VersaBank Price Performance

The firm has a market cap of C$1.05 billion, a P/E ratio of 34.65 and a beta of 1.72. The stock has a 50 day moving average of C$25.58 and a 200 day moving average of C$22.61.

VersaBank (TSE:VBNK) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported C$0.39 earnings per share (EPS) for the quarter. The firm had revenue of C$38.29 million during the quarter. VersaBank had a return on equity of 5.64% and a net margin of 9.34%. On average, research analysts predict that VersaBank will post 1.6945127 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, April 10th. VersaBank’s dividend payout ratio (DPR) is presently 10.64%.

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.