VersaBank (TSE:VBNK) Trading Down 2.4% – Should You Sell?

Shares of VersaBank (TSE:VBNK) traded down 2.4% on Thursday . The company traded as low as C$15.47 and last traded at C$15.47. 14,204 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 32,695 shares. The stock had previously closed at C$15.85.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their target price on VersaBank from C$27.00 to C$22.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th.

VersaBank Stock Down 2.4%

The business has a fifty day simple moving average of C$14.64 and a two-hundred day simple moving average of C$18.49. The company has a market cap of C$500.62 million, a P/E ratio of 10.06 and a beta of 1.07.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, April 4th. VersaBank’s dividend payout ratio is 6.50%.

VersaBank Company Profile

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.