VersaBank (NASDAQ:VBNK – Get Free Report) saw unusually-high trading volume on Tuesday . 50,639 shares were traded during trading, a decline of 20% from the previous session’s volume of 63,212 shares.The stock last traded at $21.5910 and had previously closed at $20.46.
Analysts Set New Price Targets
A number of brokerages recently issued reports on VBNK. Zacks Research upgraded VersaBank from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Roth Mkm raised VersaBank from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $25.00 in a research report on Tuesday. Finally, Weiss Ratings cut VersaBank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.00.
Get Our Latest Stock Report on VBNK
VersaBank Stock Performance
VersaBank (NASDAQ:VBNK – Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $28.17 million for the quarter, compared to analysts’ expectations of $26.86 million. VersaBank had a return on equity of 8.32% and a net margin of 9.34%. On average, research analysts predict that VersaBank will post 1.3 earnings per share for the current year.
VersaBank Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, July 10th. VersaBank’s dividend payout ratio (DPR) is 10.14%.
Institutional Investors Weigh In On VersaBank
Hedge funds and other institutional investors have recently bought and sold shares of the business. Compass Rose Asset Management LP purchased a new position in shares of VersaBank during the third quarter valued at approximately $720,000. CSM Advisors LLC purchased a new stake in shares of VersaBank in the 3rd quarter worth approximately $3,418,000. Renaissance Technologies LLC grew its stake in shares of VersaBank by 29.7% in the 1st quarter. Renaissance Technologies LLC now owns 112,700 shares of the company’s stock worth $1,597,000 after buying an additional 25,800 shares during the last quarter. Sei Investments Co. increased its position in VersaBank by 100.0% during the 1st quarter. Sei Investments Co. now owns 36,578 shares of the company’s stock valued at $518,000 after buying an additional 18,289 shares in the last quarter. Finally, First Trust Advisors LP increased its position in VersaBank by 33.0% during the 2nd quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock valued at $237,000 after buying an additional 5,144 shares in the last quarter. Hedge funds and other institutional investors own 56.86% of the company’s stock.
VersaBank Company Profile
VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.
The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.
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