VersaBank (TSE:VBNK) Posts Earnings Results

VersaBank (TSE:VBNK) announced its earnings results on Wednesday. The company reported C$0.39 earnings per share for the quarter, FiscalAI reports. VersaBank had a net margin of 10.04% and a return on equity of 5.89%. The business had revenue of C$38.29 million during the quarter.

VersaBank Stock Performance

Shares of TSE VBNK opened at C$25.08 on Wednesday. VersaBank has a fifty-two week low of C$13.92 and a fifty-two week high of C$26.00. The company has a 50 day simple moving average of C$22.96 and a two-hundred day simple moving average of C$21.13. The company has a market capitalization of C$806.75 million, a price-to-earnings ratio of 25.86 and a beta of 1.59.

VersaBank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.4%. VersaBank’s dividend payout ratio (DPR) is currently 10.31%.

VersaBank Company Profile

VersaBank, a Canadian Schedule I chartered bank, became the world’s first fully digital financial institution when it adopted its highly efficient business-to-business model using proprietary state-of-the art financial technology to profitably address underserved markets in pursuit of superior net interest margins while mitigating risk. It obtains all deposits and provides the majority of loans and leases electronically. Leveraging internally developed IT security software, VersaBank established Washington, DC based subsidiary, DRT Cyber Inc, to pursue large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.