VersaBank, a schedule I chartered bank, provides various banking products and services in Canada. The company offers deposit products, such as guaranteed investment certificates, registered retirement savings plans, daily interest savings accounts, and tax-free savings accounts, as well as deposit insurance products. It also provides lending services, including point of sale financing that involves purchasing loan and lease receivables from finance companies operating in various industries; and commercial banking services comprising commercial real estate, public sector/infrastructure financing, condominium financing, and residential mortgages. The company was formerly known as Pacific & Western Bank of Canada and changed its name to VersaBank in May 2016. VersaBank was incorporated in 1979 and is headquartered in London, Canada.
VersaBank Price Performance
Shares of NASDAQ:VBNK traded down $0.02 during trading hours on Wednesday, hitting $7.88. 1,751 shares of the company's stock were exchanged, compared to its average volume of 15,218. VersaBank has a 1-year low of $6.98 and a 1-year high of $14.30. The stock has a market capitalization of $216.24 million and a price-to-earnings ratio of 11.76. The company's 50-day moving average price is $7.43 and its 200-day moving average price is $9.44.
VersaBank (NASDAQ:VBNK - Get Rating) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). VersaBank had a return on equity of 8.29% and a net margin of 21.25%. The business had revenue of $14.71 million for the quarter, compared to analyst estimates of $19.24 million.
VersaBank Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, July 31st. Shareholders of record on Friday, July 8th were issued a $0.019 dividend. The ex-dividend date of this dividend was Thursday, July 7th. This represents a $0.08 annualized dividend and a yield of 0.96%. VersaBank's dividend payout ratio (DPR) is 11.94%.