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

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Thursday, September 3rd. Investors of record on Friday, October 9th will be paid a dividend of 0.025 per share on Saturday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 9th.

VersaBank has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect VersaBank to earn $1.95 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 3.6%.

VersaBank Stock Performance

Shares of VBNK stock opened at $22.41 on Friday. The stock’s 50 day simple moving average is $20.40 and its 200 day simple moving average is $18.13. VersaBank has a twelve month low of $11.25 and a twelve month high of $25.05. The company has a market capitalization of $724.52 million, a price-to-earnings ratio of 29.49 and a beta of 1.06.

VersaBank (NASDAQ:VBNK) last announced its earnings results on Thursday, September 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.07). VersaBank had a return on equity of 8.74% and a net margin of 9.92%.The company had revenue of $27.67 million for the quarter, compared to the consensus estimate of $28.76 million. On average, analysts forecast that VersaBank will post 1.29 EPS for the current fiscal year.

VersaBank Company Profile

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.