VersaBank (TSE:VBNK) Announces 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 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, July 5th.

VersaBank Price Performance

VBNK opened at C$14.90 on Thursday. The company has a market capitalization of C$386.80 million, a P/E ratio of 8.71 and a beta of 1.08. VersaBank has a fifty-two week low of C$9.80 and a fifty-two week high of C$16.49. The firm’s fifty day moving average price is C$13.82 and its two-hundred day moving average price is C$14.35.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered their target price on VersaBank from C$13.00 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th.

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.