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VRRKF - VersaBank's Earnings And Dividends To Remain Stable
VersaBank
We expect earnings of VersaBank (OTC:VRRKF), a Canadian bank, to remain stable in the coming year due to our expectation of stable loan portfolio size and net interest margin. Due to our expectation of stable earnings, we believe that VRRKF will be able to maintain its dividend per share at CAD 0.075 in FY20. Discussion on our earnings estimates and valuation analysis follows.
Stable Loan Book Size To Support The Bottom Line
We expect VRRKF’s loans to grow by only 0.9% quarter-over-quarter in 4Q to end the year at CAD 1.63 million. For