VersaBank (TSE:VBNK) Stock Price Down 10.1% – Time to Sell?

VersaBank (TSE:VBNK)’s share price fell 10.1% during mid-day trading on Wednesday . The stock traded as low as C$15.21 and last traded at C$15.60. 105,626 shares were traded during trading, an increase of 260% from the average session volume of 29,380 shares. The stock had previously closed at C$17.36.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on shares of VersaBank from C$22.00 to C$28.00 in a research report on Wednesday, December 4th.

VersaBank Stock Down 13.5 %

The company’s 50 day moving average is C$19.29 and its 200 day moving average is C$19.92. The firm has a market capitalization of C$486.05 million, a price-to-earnings ratio of 9.77 and a beta of 1.07.

VersaBank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Friday, January 10th. VersaBank’s dividend payout ratio is currently 6.50%.

About VersaBank

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.