VersaBank (TSE:VBNK) Shares Up 1.2% - Time to Buy?

Key Points

• Shares rose 1.2% to C$24.55 on Friday (intraday high C$24.62) while trading volume was about 15,238 shares, roughly 50% below the average session volume, indicating lighter-than-normal trading.
• VersaBank has a market cap of C$787.3M, a P/E of 25.3 and 50/200-day SMAs of C$21.46/C$19.98; it reported quarterly EPS of C$0.38 and analysts expect roughly C$1.69 in EPS for the year.
• The company pays a small quarterly dividend that annualizes to C$0.10 (a 0.4% yield) with a 10.3% payout ratio, and operates as a primarily digital bank with a cybersecurity subsidiary, DRT Cyber.

VersaBank (TSE:VBNK - Get Free Report)'s share price shot up 1.2% during trading on Friday . The company traded as high as C$24.62 and last traded at C$24.55. 15,238 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 30,689 shares. The stock had previously closed at C$24.27.

VersaBank Stock Up 1.2%

The stock has a 50 day simple moving average of C$21.46 and a 200 day simple moving average of C$19.98. The stock has a market cap of C$787.29 million, a price-to-earnings ratio of 25.31 and a beta of 1.52.

VersaBank (TSE:VBNK - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of C$36.51 million during the quarter. Equities analysts expect that VersaBank will post 1.6945127 earnings per share for the current year.

VersaBank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, April 10th. VersaBank's dividend payout ratio (DPR) is 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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