VersaBank (VBNK) To Go Ex-Dividend on January 10th

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders of record on Friday, January 10th will be given a dividend of 0.0177 per share on Friday, January 31st. This represents a $0.07 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, January 10th.

VersaBank has a dividend payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect VersaBank to earn $2.40 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 2.9%.

VersaBank Trading Down 3.9 %

Shares of NASDAQ VBNK opened at $13.65 on Wednesday. The business’s 50 day moving average is $15.65 and its 200-day moving average is $13.63. The firm has a market cap of $443.79 million, a P/E ratio of 12.41 and a beta of 0.91. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38.

Analysts Set New Price Targets

Several equities analysts recently commented on VBNK shares. Raymond James restated an “outperform” rating and issued a $17.00 price target (up from $15.00) on shares of VersaBank in a research note on Friday, November 8th. Roth Capital upgraded VersaBank to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Roth Mkm began coverage on VersaBank in a research report on Friday, September 27th. They set a “buy” rating and a $18.00 price target on the stock.

VersaBank Company Profile

VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products. The company also provides lending services, including point of sale financing that covers purchasing loan and lease receivables from finance companies operating in various industries; commercial banking services comprising commercial real estate, public sector/infrastructure financing, and condominium financing; and residential mortgages.