VersaBank (VBNK) To Go Ex-Dividend on January 9th

VersaBank (NASDAQ:VBNK) announced a quarterly dividend on Tuesday, December 9th. Shareholders of record on Friday, January 9th will be given a dividend of 0.025 per share on Saturday, January 31st. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, January 9th.

VersaBank has a payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect VersaBank to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 3.1%.

VersaBank Stock Performance

VersaBank stock opened at $15.00 on Wednesday. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $15.57. The firm has a market capitalization of $479.25 million, a price-to-earnings ratio of 23.08 and a beta of 0.94. The stock’s fifty day moving average is $13.03 and its two-hundred day moving average is $12.14.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings data on Wednesday, December 10th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $25.05 million for the quarter, compared to analyst estimates of $24.48 million. VersaBank had a net margin of 9.33% and a return on equity of 7.02%. As a group, sell-side analysts forecast that VersaBank will post 1.46 EPS for the current fiscal year.

About VersaBank

VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.

The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.