VersaBank (TSE:VBNK) Plans Quarterly Dividend of $0.03

VersaBank (TSE:VBNK) declared a quarterly dividend on Friday, July 5th, TickerTech reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.025 per share on Wednesday, July 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, July 5th.

VersaBank Stock Up 0.5 %

Shares of TSE VBNK traded up C$0.08 during mid-day trading on Wednesday, hitting C$14.69. 17,450 shares of the company were exchanged, compared to its average volume of 12,113. The stock has a 50 day simple moving average of C$13.79 and a 200-day simple moving average of C$14.35. VersaBank has a 1-year low of C$9.80 and a 1-year high of C$16.49. The firm has a market cap of C$381.35 million, a price-to-earnings ratio of 8.53 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their target price on shares of VersaBank from C$13.00 to C$12.00 and set an “outperform” rating on the stock in a report on Thursday, June 6th.

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.