VersaBank (TSE:VBNK) Trading Up 1.3% – Should You Buy?

VersaBank (TSE:VBNK) shares shot up 1.3% during mid-day trading on Friday . The company traded as high as C$14.65 and last traded at C$14.37. 34,398 shares were traded during mid-day trading, an increase of 6% from the average session volume of 32,353 shares. The stock had previously closed at C$14.18.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on VersaBank from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research report on Thursday.

VersaBank Trading Up 1.3%

The firm has a 50-day moving average of C$14.98 and a two-hundred day moving average of C$17.72. The firm has a market capitalization of C$465.02 million, a PE ratio of 9.34 and a beta of 1.07.

VersaBank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, April 4th. VersaBank’s dividend payout ratio (DPR) is 6.50%.

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.