VersaBank (TSE:VBNK) Hits New 52-Week High – Here’s Why

VersaBank (TSE:VBNK) shares hit a new 52-week high during trading on Monday. The company traded as high as C$34.81 and last traded at C$34.50, with a volume of 9,345 shares. The stock had previously closed at C$32.51.

VersaBank Stock Up 5.5%

The stock has a market cap of C$1.11 billion, a PE ratio of 32.67 and a beta of 1.24. The business has a 50 day moving average price of C$31.20 and a 200 day moving average price of C$26.29.

VersaBank (TSE:VBNK) last announced its quarterly earnings results on Thursday, September 3rd. The company reported C$0.38 earnings per share for the quarter. VersaBank had a return on equity of 6.17% and a net margin of 9.92%. The company had revenue of C$38.81 million during the quarter. On average, research analysts predict that VersaBank will post 1.69 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Saturday, October 31st were paid a dividend of $0.0250 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. VersaBank’s dividend payout ratio (DPR) is presently 9.52%.

About VersaBank

VersaBank is a North American bank with a difference. Federally chartered in both Canada and the U.S., VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity.