VersaBank (NASDAQ:VBNK) Shares Up 0.2%

VersaBank (NASDAQ:VBNKGet Free Report)’s stock price traded up 0.2% during trading on Tuesday . The stock traded as high as $11.18 and last traded at $11.15. 16,556 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 19,202 shares. The stock had previously closed at $11.13.

Analyst Ratings Changes

VBNK has been the topic of several recent research reports. TheStreet upgraded shares of VersaBank from a “c” rating to a “b-” rating in a research report on Thursday, December 21st. Raymond James lifted their target price on shares of VersaBank from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th.

View Our Latest Stock Analysis on VersaBank

VersaBank Trading Up 0.2 %

The firm has a market capitalization of $289.45 million, a price-to-earnings ratio of 9.61 and a beta of 0.80. The firm’s 50-day moving average is $10.26 and its 200 day moving average is $8.74.

VersaBank (NASDAQ:VBNKGet Free Report) last issued its quarterly earnings results on Wednesday, December 13th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $50.85 million for the quarter, compared to the consensus estimate of $22.27 million. VersaBank had a net margin of 17.72% and a return on equity of 11.55%. During the same quarter in the previous year, the company earned $0.17 EPS. Analysts predict that VersaBank will post 1.45 EPS for the current year.

VersaBank Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were given a $0.0184 dividend. The ex-dividend date was Thursday, January 4th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.66%. VersaBank’s dividend payout ratio (DPR) is currently 6.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VBNK. Prelude Capital Management LLC lifted its position in shares of VersaBank by 30.3% in the 1st quarter. Prelude Capital Management LLC now owns 16,753 shares of the company’s stock worth $191,000 after purchasing an additional 3,900 shares during the period. Alliancebernstein L.P. lifted its position in shares of VersaBank by 11.1% during the 3rd quarter. Alliancebernstein L.P. now owns 1,151,265 shares of the company’s stock valued at $8,036,000 after acquiring an additional 115,141 shares during the period. Millennium Management LLC acquired a new position in shares of VersaBank during the 4th quarter valued at $142,000. National Bank of Canada FI lifted its position in shares of VersaBank by 1.3% during the 2nd quarter. National Bank of Canada FI now owns 105,321 shares of the company’s stock valued at $748,000 after acquiring an additional 1,400 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of VersaBank by 2.9% during the 2nd quarter. Royal Bank of Canada now owns 56,382 shares of the company’s stock valued at $428,000 after acquiring an additional 1,569 shares during the period. Institutional investors and hedge funds own 21.13% of the company’s stock.

VersaBank Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for VersaBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VersaBank and related companies with MarketBeat.com's FREE daily email newsletter.