VersaBank (TSE:VBNK) Trading Down 1.8% – Should You Sell?

Shares of VersaBank (TSE:VBNK) were down 1.8% during trading on Wednesday . The stock traded as low as C$26.95 and last traded at C$27.02. Approximately 34,441 shares traded hands during trading, an increase of 9% from the average daily volume of 31,487 shares. The stock had previously closed at C$27.51.

VersaBank Stock Performance

The stock has a market cap of C$870.90 million, a P/E ratio of 28.78 and a beta of 1.59. The stock has a fifty day simple moving average of C$28.08 and a 200-day simple moving average of C$24.15.

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

VersaBank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, July 10th. VersaBank’s dividend payout ratio is 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.