Pacific Ridge Capital Partners LLC Has $6.12 Million Holdings in VersaBank (NASDAQ:VBNK)

Pacific Ridge Capital Partners LLC boosted its stake in shares of VersaBank (NASDAQ:VBNK) by 46.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 590,623 shares of the company’s stock after purchasing an additional 187,160 shares during the quarter. VersaBank accounts for about 1.6% of Pacific Ridge Capital Partners LLC’s holdings, making the stock its 20th biggest position. Pacific Ridge Capital Partners LLC’s holdings in VersaBank were worth $6,119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in VersaBank during the 1st quarter worth about $51,000. Salzhauer Michael acquired a new position in shares of VersaBank in the 4th quarter valued at about $137,000. XTX Topco Ltd acquired a new position in shares of VersaBank in the 4th quarter valued at about $159,000. First Trust Advisors LP acquired a new position in shares of VersaBank in the 4th quarter valued at about $217,000. Finally, Bank of Montreal Can increased its holdings in shares of VersaBank by 11.8% in the 4th quarter. Bank of Montreal Can now owns 17,431 shares of the company’s stock valued at $239,000 after purchasing an additional 1,841 shares during the period. Institutional investors and hedge funds own 56.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reiterated an “outperform” rating and issued a $13.00 target price (down previously from $15.00) on shares of VersaBank in a report on Thursday, June 5th.

VersaBank Price Performance

Shares of VBNK opened at $11.37 on Friday. The company has a market capitalization of $366.57 million, a price-to-earnings ratio of 14.39 and a beta of 0.96. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $18.38. The business’s 50-day moving average is $11.44 and its 200-day moving average is $11.52.

VersaBank (NASDAQ:VBNK) last issued its earnings results on Wednesday, June 4th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The business had revenue of $21.87 million during the quarter, compared to analyst estimates of $20.77 million. VersaBank had a net margin of 10.70% and a return on equity of 7.97%. Equities research analysts expect that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 4th were issued a $0.025 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.9%. VersaBank’s dividend payout ratio is currently 8.86%.

About VersaBank

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.