VersaBank (TSE:VBNK) Trading Up 0.7% - Should You Buy?

Key Points

• VersaBank's stock price increased by 0.7% to C$16.64, despite a significant drop in trading volume, down by 83% compared to its average daily volume.
• The bank announced a quarterly dividend of $0.025 per share, scheduled for payment on October 31st, resulting in an annualized dividend yield of 0.6%.
• VersaBank operates as a fully digital financial institution, leveraging advanced technology to target underserved markets and achieve superior net interest margins.

VersaBank (TSE:VBNK - )'s stock price was up 0.7% on Thursday . The company traded as high as C$16.64 and last traded at C$16.64. Approximately 4,800 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 28,401 shares. The stock had previously closed at C$16.53.

VersaBank Stock Performance

The stock's 50-day moving average price is C$16.45 and its two-hundred day moving average price is C$15.70. The stock has a market capitalization of C$541.12 million, a PE ratio of 17.70 and a beta of 0.96.

VersaBank Dividend Announcement

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

About VersaBank

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.

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