VersaBank (NASDAQ:VBNK) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

VersaBank (NASDAQ:VBNK) announced its quarterly earnings results on Wednesday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09), Zacks reports. VersaBank had a return on equity of 11.20% and a net margin of 13.52%.

VersaBank Price Performance

Shares of NASDAQ:VBNK opened at $11.92 on Wednesday. The company has a market capitalization of $387.63 million, a PE ratio of 10.84 and a beta of 0.91. The business has a fifty day moving average price of $13.45 and a two-hundred day moving average price of $14.24. VersaBank has a 1 year low of $9.48 and a 1 year high of $18.38.

VersaBank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $0.025 per share. This is a positive change from VersaBank’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.84%. VersaBank’s dividend payout ratio is presently 5.45%.

Analysts Set New Price Targets

Separately, Raymond James reiterated an “outperform” rating and issued a $17.00 price objective (up from $15.00) on shares of VersaBank in a research report on Friday, November 8th.

VersaBank Company Profile

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.