Wellington Management Group LLP bought a new stake in VersaBank (NASDAQ:VBNK – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 265,879 shares of the company’s stock, valued at approximately $6,171,000. Wellington Management Group LLP owned about 0.82% of VersaBank at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of VBNK. Salzhauer Michael raised its stake in shares of VersaBank by 68.4% in the 2nd quarter. Salzhauer Michael now owns 16,843 shares of the company’s stock valued at $192,000 after acquiring an additional 6,843 shares during the period. Citadel Advisors LLC purchased a new position in shares of VersaBank during the 3rd quarter worth approximately $198,000. Quadrature Capital Ltd acquired a new stake in VersaBank in the 4th quarter valued at approximately $201,000. First Trust Advisors LP increased its holdings in VersaBank by 33.0% in the 2nd quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock valued at $237,000 after purchasing an additional 5,144 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in VersaBank in the second quarter valued at approximately $239,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.
VersaBank Stock Down 1.6%
Shares of VBNK opened at $21.70 on Thursday. The company has a market cap of $701.56 million, a P/E ratio of 28.55 and a beta of 1.06. VersaBank has a fifty-two week low of $11.25 and a fifty-two week high of $25.05. The firm’s 50 day moving average price is $20.37 and its 200 day moving average price is $18.26.
VersaBank Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be issued a $0.025 dividend. The ex-dividend date is Friday, October 9th. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. VersaBank’s dividend payout ratio (DPR) is 9.21%.
Analysts Set New Price Targets
A number of research firms have commented on VBNK. Raymond James Financial set a $20.00 price target on VersaBank in a research note on Thursday, September 3rd. Zacks Research cut VersaBank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VersaBank in a report on Friday, September 4th. Finally, Roth Capital increased their target price on VersaBank from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.
View Our Latest Analysis on VersaBank
About VersaBank
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.
Featured Stories
- Five stocks we like better than VersaBank
- Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal
- GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus
- Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer
- Sovereign AI: Palantir and Nebius Cut the Cloud Cord
Want to see what other hedge funds are holding VBNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VersaBank (NASDAQ:VBNK – Free Report).
Receive News & Ratings for VersaBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VersaBank and related companies with MarketBeat.com's FREE daily email newsletter.
