VersaBank (CA:VBNK) reported its first quarter 2023 results on March 8. Current shareholders in the London, Ontario, business-to-business digital bank’s shareholders have got to be thrilled with the news.
Investors, however, didn’t seem to care. As a result, VBNK shares were barely up on the day.
Part of the problem for the micro-cap is it is thinly traded. Its 30-day average volume is just 83,729 shares; similarly, its Nasdaq-traded shares (US:VBNK) volume is about 57,000 shares. A large-cap financial stock such as the Royal Bank of Canada (CA:RY) has 43x the volume on any given day. It gets the lion’s share of the attention.