VersaBank (TSE:VBNK) Trading Up 0.2% - Time to Buy?

Key Points

• Shares of VersaBank (TSE:VBNK) increased by 0.2%, closing at C$17.03, though trading volume was down 17% compared to the average.
• Analysts from Keefe, Bruyette & Woods revised their price target for VersaBank from C$21.00 to C$19.00, while maintaining an "outperform" rating.
• VersaBank announced a quarterly dividend of $0.025, set to be paid on October 31st, representing a 0.6% yield with a payout ratio of 10.64%.

Shares of VersaBank (TSE:VBNK - Get Free Report) were up 0.2% during trading on Wednesday . The stock traded as high as C$17.36 and last traded at C$17.03. Approximately 23,787 shares traded hands during trading, a decline of 17% from the average daily volume of 28,581 shares. The stock had previously closed at C$17.00.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price target on VersaBank from C$21.00 to C$19.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$19.00.

VersaBank Price Performance

The firm's 50 day moving average price is C$15.90 and its 200-day moving average price is C$15.41. The firm has a market cap of C$553.80 million, a price-to-earnings ratio of 18.12 and a beta of 0.89.

VersaBank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 31st will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 10th. VersaBank's dividend payout ratio (DPR) is 10.64%.

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.

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