VersaBank (NASDAQ:VBNK) Trading Down 0.8%

Shares of VersaBank (NASDAQ:VBNK) dropped 0.8% during mid-day trading on Friday . The company traded as low as $9.72 and last traded at $9.80. Approximately 10,070 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 26,569 shares. The stock had previously closed at $9.88.

VersaBank Stock Performance

The company has a 50-day moving average price of $10.50 and a 200-day moving average price of $9.89. The firm has a market capitalization of $254.41 million, a P/E ratio of 7.72 and a beta of 0.78.

VersaBank (NASDAQ:VBNK) last posted its earnings results on Wednesday, March 6th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $21.35 million during the quarter, compared to analyst estimates of $22.05 million. VersaBank had a return on equity of 12.14% and a net margin of 17.59%. Equities analysts predict that VersaBank will post 1.45 EPS for the current year.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a $0.0184 dividend. This represents a $0.07 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, April 4th. VersaBank’s payout ratio is presently 3.15%.

Hedge Funds Weigh In On VersaBank

A number of hedge funds and other institutional investors have recently made changes to their positions in VBNK. Mendon Capital Advisors Corp acquired a new stake in VersaBank during the 4th quarter worth $9,136,000. Wellington Management Group LLP lifted its holdings in shares of VersaBank by 287.0% during the 4th quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after purchasing an additional 92,166 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of VersaBank by 9.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after purchasing an additional 29,982 shares during the period. Cox Capital Mgt LLC increased its stake in VersaBank by 5.3% during the 1st quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock worth $2,074,000 after purchasing an additional 9,802 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in VersaBank by 24.5% during the 3rd quarter. Acadian Asset Management LLC now owns 41,005 shares of the company’s stock worth $320,000 after buying an additional 8,071 shares during the period. 56.86% of the stock is owned by institutional investors.

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.