Raymond James Trims VersaBank (TSE:VBNK) Target Price to C$12.00

VersaBank (TSE:VBNKFree Report) had its target price cut by Raymond James from C$13.00 to C$12.00 in a research report released on Thursday, MarketBeat reports. They currently have an outperform rating on the stock.

VersaBank Price Performance

Shares of VBNK stock opened at C$14.76 on Thursday. VersaBank has a 12 month low of C$9.71 and a 12 month high of C$16.49. The firm has a market capitalization of C$383.17 million, a P/E ratio of 8.63 and a beta of 1.08. The company’s fifty day moving average price is C$13.51 and its two-hundred day moving average price is C$13.93.

VersaBank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th were paid a $0.025 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.68%. VersaBank’s dividend payout ratio (DPR) is presently 5.85%.

About VersaBank

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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.

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