VersaBank (TSE:VBNK) Hits New 52-Week High – Time to Buy?

VersaBank (TSE:VBNK) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$28.93 and last traded at C$27.14, with a volume of 1784 shares. The stock had previously closed at C$26.35.

VersaBank Stock Performance

The firm has a market cap of C$885.71 million, a price-to-earnings ratio of 29.27 and a beta of 1.72. The firm’s 50 day moving average is C$23.56 and its 200-day moving average is C$21.42.

VersaBank (TSE:VBNK) last posted its earnings results on Wednesday, June 3rd. The company reported C$0.39 earnings per share for the quarter. VersaBank had a return on equity of 5.64% and a net margin of 9.34%.The company had revenue of C$38.29 million for the quarter. As a group, research analysts predict that VersaBank will post 1.6945127 EPS for the current year.

VersaBank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.4%. VersaBank’s dividend payout ratio is currently 10.64%.

About VersaBank

VersaBank, a Canadian Schedule I chartered bank, became the world’s first fully digital financial institution when it adopted its highly efficient business-to-business model using proprietary state-of-the art financial technology to profitably address underserved markets in pursuit of superior net interest margins while mitigating risk. It obtains all deposits and provides the majority of loans and leases electronically. Leveraging internally developed IT security software, VersaBank established Washington, DC based subsidiary, DRT Cyber Inc, to pursue large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.