VersaBank to Issue Quarterly Dividend of $0.02 (NASDAQ:VBNK)

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Tuesday, June 4th, Zacks reports. Shareholders of record on Friday, July 5th will be given a dividend of 0.018 per share on Wednesday, July 31st. This represents a $0.07 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, July 5th.

VersaBank has a dividend payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect VersaBank to earn $1.70 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 4.1%.

VersaBank Trading Up 1.8 %

NASDAQ:VBNK opened at $10.87 on Thursday. VersaBank has a 1 year low of $7.24 and a 1 year high of $12.19. The stock has a market cap of $282.19 million, a price-to-earnings ratio of 8.23 and a beta of 0.77. The stock has a 50-day moving average price of $10.11 and a two-hundred day moving average price of $10.58.

VersaBank (NASDAQ:VBNK) last posted its earnings results on Wednesday, June 5th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. VersaBank had a return on equity of 12.26% and a net margin of 17.02%. The firm had revenue of $21.01 million during the quarter, compared to analysts’ expectations of $21.54 million. Sell-side analysts forecast that VersaBank will post 1.4 earnings per share for the current year.

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.