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

Shares of VersaBank (TSE:VBNK) traded down 10.1% on Wednesday . The company 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.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of VersaBank from C$27.00 to C$22.00 and set an “outperform” rating for the company in a research note on Thursday.

VersaBank Stock Up 0.3 %

The company has a market cap of C$488.32 million, a price-to-earnings ratio of 9.81 and a beta of 1.07. The stock has a 50 day simple moving average of C$19.21 and a 200 day simple moving average of C$19.90.

VersaBank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, January 10th. VersaBank’s dividend payout ratio (DPR) is 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.