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

VersaBank (TSE:VBNK – Get Free Report)’s share price reached a new 52-week high on Monday . The stock traded as high as C$29.09 and last traded at C$28.96, with a volume of 88133 shares. The stock had previously closed at C$27.29.

VersaBank Trading Up 6.1%

The firm has a market capitalization of C$932.40 million, a price-to-earnings ratio of 30.81 and a beta of 1.72. The company’s 50 day moving average is C$25.44 and its 200-day moving average is C$22.53.

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VersaBank (TSE:VBNK – Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported C$0.39 earnings per share for the quarter. The firm had revenue of C$38.29 million for the quarter. VersaBank had a return on equity of 5.64% and a net margin of 9.34%. Research analysts expect that VersaBank will post 1.6945127 EPS for the current year.

VersaBank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 30th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, April 10th. VersaBank’s dividend payout ratio is 10.64%.

VersaBank Company Profile

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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.

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