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

VersaBank (NASDAQ:VBNK) issued its 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 Stock Performance

NASDAQ:VBNK traded down $1.10 during mid-day trading on Wednesday, hitting $10.82. 79,341 shares of the stock were exchanged, compared to its average volume of 82,944. The firm’s 50-day simple moving average is $13.45 and its 200 day simple moving average is $14.24. The stock has a market capitalization of $351.73 million, a price-to-earnings ratio of 9.87 and a beta of 0.91. VersaBank has a fifty-two week low of $9.48 and a fifty-two week high of $18.38.

VersaBank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $0.025 per share. This is an increase from VersaBank’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.92%. VersaBank’s dividend payout ratio (DPR) is 5.45%.

Wall Street Analyst Weigh In

Separately, Raymond James reaffirmed an “outperform” rating and issued a $17.00 price target (up previously from $15.00) on shares of VersaBank in a research note 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.