VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 13,700 shares, a decline of 18.5% from the September 15th total of 16,800 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 38,900 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pembroke Management LTD acquired a new position in shares of VersaBank in the 2nd quarter valued at about $377,000. Cumberland Partners Ltd acquired a new position in shares of VersaBank in the 1st quarter valued at about $472,000. Dimensional Fund Advisors LP lifted its stake in shares of VersaBank by 44.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock valued at $540,000 after purchasing an additional 15,462 shares during the period. Acadian Asset Management LLC lifted its stake in shares of VersaBank by 52.4% in the 1st quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock valued at $689,000 after purchasing an additional 22,699 shares during the period. Finally, ELCO Management Co. LLC lifted its stake in shares of VersaBank by 4.1% in the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock valued at $892,000 after purchasing an additional 3,234 shares during the period. 56.86% of the stock is owned by institutional investors and hedge funds.

VersaBank Trading Up 4.9 %

NASDAQ VBNK opened at $14.95 on Monday. The business’s 50-day moving average price is $12.80 and its two-hundred day moving average price is $11.27. VersaBank has a 12 month low of $7.24 and a 12 month high of $15.71. The firm has a market capitalization of $388.10 million, a PE ratio of 11.50 and a beta of 0.79.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). VersaBank had a net margin of 16.24% and a return on equity of 11.85%. The company had revenue of $19.72 million during the quarter, compared to the consensus estimate of $21.83 million. As a group, analysts forecast that VersaBank will post 1.21 earnings per share for the current fiscal year.

VersaBank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $0.018 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.48%. VersaBank’s dividend payout ratio (DPR) is presently 5.38%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VBNK shares. Roth Capital upgraded VersaBank to a “strong-buy” rating in a research report on Friday, September 27th. Keefe, Bruyette & Woods started coverage on VersaBank in a research report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Roth Mkm started coverage on VersaBank in a research report on Friday, September 27th. They set a “buy” rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.67.

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.