VersaBank (TSE:VBNK) Sets New 12-Month High - Here's Why

Key Points

• VersaBank hit a new 52-week high, trading as high as C$26.00 before last changing hands at C$25.61. The move came on relatively light volume of 3,100 shares.
• The stock’s recent strength comes alongside solid fundamentals, including a 50-day average of C$21.61 and a 200-day average of C$20.19. VersaBank also has a market cap of about C$805.8 million and a P/E ratio of 25.82.
• The bank recently reported quarterly EPS of C$0.38 on revenue of C$36.51 million and paid a quarterly dividend of C$0.025 per share. That dividend equates to a 0.4% annual yield, with a payout ratio of 10.31%.

VersaBank (TSE:VBNK - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$26.00 and last traded at C$25.61, with a volume of 3100 shares trading hands. The stock had previously closed at C$25.80.

VersaBank Stock Down 2.9%

The stock has a 50-day simple moving average of C$21.61 and a 200 day simple moving average of C$20.19. The company has a market cap of C$805.78 million, a PE ratio of 25.82 and a beta of 1.59.

VersaBank (TSE:VBNK - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported C$0.38 EPS for the quarter. VersaBank had a return on equity of 5.89% and a net margin of 10.04%.The business had revenue of C$36.51 million during the quarter. As a group, research analysts anticipate that VersaBank will post 1.6945127 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, April 10th. VersaBank's dividend payout ratio (DPR) is currently 10.31%.

VersaBank Company Profile

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.

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