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

VersaBank (TSE:VBNK) announced a quarterly dividend on Friday, July 5th, TickerTech reports. Stockholders of record on Wednesday, July 31st will be given 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 is Friday, July 5th.

VersaBank Price Performance

Shares of VBNK traded down C$0.01 during trading hours on Wednesday, hitting C$14.60. 9,050 shares of the company were exchanged, compared to its average volume of 12,022. The company has a market capitalization of C$379.02 million, a PE ratio of 8.53 and a beta of 1.08. The firm has a fifty day simple moving average of C$13.79 and a 200-day simple moving average of C$14.35. VersaBank has a one year low of C$9.80 and a one year high of C$16.49.

Wall Street Analysts Forecast Growth

Separately, Raymond James decreased their target price on VersaBank from C$13.00 to C$12.00 and set an “outperform” rating for the company in a research 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.