VersaBank (TSE:VBNK) Reaches New 52-Week High – Time to Buy?

Shares of VersaBank (TSE:VBNK) hit a new 52-week high on Friday . The company traded as high as C$21.45 and last traded at C$21.42, with a volume of 22882 shares trading hands. The stock had previously closed at C$20.83.

VersaBank Stock Up 3.1%

The company has a market cap of C$685.88 million, a price-to-earnings ratio of 23.86 and a beta of 1.45. The company’s 50-day moving average is C$18.24 and its 200 day moving average is C$16.84.

VersaBank (TSE:VBNK) last released its quarterly earnings results on Wednesday, December 10th. The company reported C$0.33 earnings per share (EPS) for the quarter. VersaBank had a net margin of 19.94% and a return on equity of 9.95%. The firm had revenue of C$35.09 million for the quarter. Analysts predict that VersaBank will post 1.6945127 EPS for the current fiscal year.

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.