VersaBank (TSE:VBNK) Trading Down 1% – Should You Sell?

Shares of VersaBank (TSE:VBNK) traded down 1% during mid-day trading on Wednesday . The company traded as low as C$18.63 and last traded at C$19.06. 55,376 shares traded hands during trading, an increase of 93% from the average session volume of 28,746 shares. The stock had previously closed at C$19.26.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on VersaBank from C$22.00 to C$28.00 in a research report on Wednesday, December 4th.

VersaBank Stock Performance

The company has a market cap of C$616.79 million, a P/E ratio of 12.39 and a beta of 1.07. The business’s fifty day moving average is C$19.65 and its two-hundred day moving average is C$19.77.

VersaBank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.52%. VersaBank’s 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.