Keefe, Bruyette & Woods Issues Positive Forecast for VersaBank (TSE:VBNK) Stock Price

VersaBank (TSE:VBNK) had its price objective lifted by Keefe, Bruyette & Woods from C$22.00 to C$28.00 in a research report released on Wednesday,BayStreet.CA reports.

VersaBank Stock Up 2.2 %

VersaBank stock opened at C$24.96 on Wednesday. The stock has a market capitalization of C$647.96 million, a PE ratio of 14.07 and a beta of 1.07. VersaBank has a twelve month low of C$10.84 and a twelve month high of C$25.75. The company has a 50 day moving average of C$21.32 and a 200-day moving average of C$17.63.

VersaBank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, October 4th. VersaBank’s payout ratio is 5.68%.

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.