VersaBank (TSE:VBNK) Stock Price Up 0.1% - Time to Buy?

Key Points

• VersaBank's stock price rose by 0.1% to C$15.81 after trading lower than its average volume, with only 7,011 shares changing hands.
• Keefe, Bruyette & Woods has reduced their target price for VersaBank from C$21.00 to C$19.00 while maintaining an "outperform" rating.
• The company announced a quarterly dividend of $0.025, representing a dividend yield of 0.63%, with the payout date set for July 31st.

VersaBank (TSE:VBNK - Get Free Report)'s share price was up 0.1% during mid-day trading on Friday . The stock traded as high as C$15.98 and last traded at C$15.81. Approximately 7,011 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 28,547 shares. The stock had previously closed at C$15.80.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price target on shares of VersaBank from C$21.00 to C$19.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th.

VersaBank Stock Up 0.9%

The stock has a market cap of C$520.03 million, a price-to-earnings ratio of 10.45 and a beta of 1.07. The company's 50-day simple moving average is C$15.63 and its 200-day simple moving average is C$16.18.

VersaBank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Friday, July 4th. VersaBank's dividend payout ratio is 6.50%.

About VersaBank

VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products. The company also provides lending services, including point of sale financing that covers purchasing loan and lease receivables from finance companies operating in various industries; commercial banking services comprising commercial real estate, public sector/infrastructure financing, and condominium financing; and residential mortgages.