VersaBank (TSE:VBNK) Trading 1.6% Higher – Here’s What Happened

Shares of VersaBank (TSE:VBNK) rose 1.6% on Friday . The stock traded as high as C$31.49 and last traded at C$31.44. 27,105 shares changed hands during trading, a decline of 15% from the average daily volume of 31,874 shares. The stock had previously closed at C$30.96.

VersaBank Stock Performance

The firm has a 50-day moving average of C$28.42 and a 200-day moving average of C$25.42. The firm has a market capitalization of C$1.02 billion, a P/E ratio of 29.94 and a beta of 1.58.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were issued a $0.025 dividend. The ex-dividend date was Friday, July 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. VersaBank’s dividend payout ratio (DPR) is currently 9.52%.

About VersaBank

VersaBank is a North American bank with a difference. Federally chartered in both Canada and the U.S., VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity.