VersaBank (VBNK) To Go Ex-Dividend on April 10th

VersaBank (NASDAQ:VBNK) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Friday, April 10th will be paid a dividend of 0.025 per share on Thursday, April 30th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, April 10th.

VersaBank has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect VersaBank to earn $2.23 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 3.1%.

VersaBank Trading Down 0.5%

Shares of VersaBank stock opened at $14.54 on Wednesday. The stock has a fifty day simple moving average of $15.26 and a 200 day simple moving average of $13.93. VersaBank has a 12-month low of $8.55 and a 12-month high of $17.47. The company has a market capitalization of $466.30 million, a P/E ratio of 20.77 and a beta of 0.99.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. VersaBank had a return on equity of 7.70% and a net margin of 10.03%.The business had revenue of $26.80 million during the quarter, compared to the consensus estimate of $26.92 million. On average, analysts predict that VersaBank will post 1.46 EPS for the current year.

About VersaBank

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.