VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 17,200 shares, a decline of 25.5% from the February 29th total of 23,100 shares. Based on an average daily trading volume, of 25,700 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the shares of the stock are sold short.

VersaBank Stock Performance

Shares of NASDAQ VBNK opened at $10.60 on Friday. VersaBank has a one year low of $6.36 and a one year high of $12.19. The firm has a market cap of $275.22 million, a PE ratio of 8.35 and a beta of 0.80. The firm has a fifty day moving average of $11.09 and a 200 day moving average of $9.46.

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a $0.0184 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 4th. VersaBank’s dividend payout ratio (DPR) is currently 3.94%.

Hedge Funds Weigh In On VersaBank

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prelude Capital Management LLC increased its position in 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 last quarter. Alliancebernstein L.P. boosted its stake in 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 purchasing an additional 115,141 shares during the last quarter. Millennium Management LLC purchased a new position in shares of VersaBank during the 4th quarter valued at $142,000. Royal Bank of Canada grew its holdings in VersaBank by 2.9% in the second quarter. Royal Bank of Canada now owns 56,382 shares of the company’s stock worth $428,000 after purchasing an additional 1,569 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of VersaBank by 34.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 17,007 shares of the company’s stock valued at $129,000 after purchasing an additional 4,398 shares during the period. 56.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of VersaBank from a “c” rating to a “b-” rating in a report on Thursday, December 21st. Raymond James raised their price target on shares of VersaBank from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 14th.

VersaBank Company Profile

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.