VersaBank (TSE:VBNK) Stock Price Down 1.4% – What’s Next?

Shares of VersaBank (TSE:VBNK) traded down 1.4% during mid-day trading on Thursday . The stock traded as low as C$14.25 and last traded at C$14.30. 23,906 shares traded hands during trading, a decline of 31% from the average session volume of 34,634 shares. The stock had previously closed at C$14.50.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of VersaBank from C$27.00 to C$22.00 and set an “outperform” rating for the company in a report on Thursday, March 6th.

VersaBank Stock Down 1.4 %

The firm’s 50 day moving average is C$17.65 and its two-hundred day moving average is C$19.58. The stock has a market cap of C$462.75 million, a price-to-earnings ratio of 9.30 and a beta of 1.07.

VersaBank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. VersaBank’s payout ratio is 6.50%.

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.