VersaBank (VBNK) Expected to Announce Quarterly Earnings on Wednesday

VersaBank (NASDAQ:VBNK) is projected to announce its earnings results before the market opens on Wednesday, March 5th. Analysts expect the company to announce earnings of $0.29 per share and revenue of $21.37 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings results on Monday, December 9th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. On average, analysts expect VersaBank to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

VersaBank Stock Up 2.3 %

Shares of NASDAQ:VBNK opened at $12.93 on Wednesday. The company has a market capitalization of $420.35 million, a price-to-earnings ratio of 11.75 and a beta of 0.91. The company has a 50 day moving average of $13.56 and a two-hundred day moving average of $14.20. VersaBank has a 52-week low of $9.48 and a 52-week high of $18.38.

VersaBank Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were issued a dividend of $0.0177 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, January 10th. VersaBank’s payout ratio is 6.36%.

Wall Street Analysts Forecast Growth

Separately, Raymond James reiterated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of VersaBank in a report on Friday, November 8th.

About VersaBank

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.