VersaBank (TSE:VBNK) Releases Earnings Results

VersaBank (TSE:VBNK) issued its quarterly earnings data on Tuesday. The company reported C$0.38 earnings per share for the quarter, FiscalAI reports. VersaBank had a net margin of 9.36% and a return on equity of 5.39%.

VersaBank Stock Performance

VBNK stock traded up C$0.05 during midday trading on Tuesday, hitting C$23.20. 41,497 shares of the stock were exchanged, compared to its average volume of 27,880. The stock has a market cap of C$741.15 million, a price-to-earnings ratio of 25.78 and a beta of 1.52. VersaBank has a fifty-two week low of C$12.18 and a fifty-two week high of C$23.73. The stock’s 50-day moving average price is C$21.69 and its 200-day moving average price is C$18.56.

About VersaBank

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.