VersaBank (TSE:VBNK) Stock Price Down 1.4% – What’s Next?

VersaBank (TSE:VBNK) dropped 1.4% during mid-day trading on Thursday . The company traded as low as C$14.25 and last traded at C$14.30. Approximately 23,906 shares traded hands during trading, a decline of 31% from the average daily volume of 34,634 shares. The stock had previously closed at C$14.50.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods dropped their target price on shares of VersaBank from C$27.00 to C$22.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th.

VersaBank Price Performance

The firm has a 50-day simple moving average of C$17.54 and a 200-day simple moving average of C$19.54. The firm has a market capitalization of C$456.93 million, a PE ratio of 9.18 and a beta of 1.07.

VersaBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. 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.