VersaBank (NASDAQ:VBNK) Sees Unusually-High Trading Volume – Still a Buy?

Shares of VersaBank (NASDAQ:VBNK) saw an uptick in trading volume on Monday . 55,456 shares traded hands during mid-day trading, an increase of 17% from the previous session’s volume of 47,596 shares.The stock last traded at $17.08 and had previously closed at $16.80.

Analyst Ratings Changes

VBNK has been the subject of a number of research analyst reports. Zacks Research lowered shares of VersaBank from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of VersaBank in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, VersaBank has an average rating of “Hold” and a consensus price target of $13.00.

VersaBank Stock Performance

The business’s fifty day moving average is $15.30 and its two-hundred day moving average is $14.00. The company has a market cap of $544.87 million, a P/E ratio of 24.27 and a beta of 0.99.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. VersaBank had a net margin of 10.03% and a return on equity of 7.70%. The company had revenue of $26.80 million during the quarter, compared to analyst estimates of $26.92 million. Analysts expect that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 10th will be issued a $0.025 dividend. The ex-dividend date is Friday, April 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. VersaBank’s payout ratio is currently 10.00%.

Institutional Investors Weigh In On VersaBank

Several large investors have recently modified their holdings of VBNK. CSM Advisors LLC bought a new stake in shares of VersaBank in the 3rd quarter valued at about $3,418,000. Pembroke Management LTD raised its holdings in shares of VersaBank by 40.7% in the 4th quarter. Pembroke Management LTD now owns 736,222 shares of the company’s stock valued at $11,029,000 after purchasing an additional 213,037 shares in the last quarter. Mudita Advisors LLP bought a new stake in shares of VersaBank in the 4th quarter valued at about $1,462,000. Alliancebernstein L.P. raised its holdings in shares of VersaBank by 2.7% in the 3rd quarter. Alliancebernstein L.P. now owns 2,915,984 shares of the company’s stock valued at $35,604,000 after purchasing an additional 75,358 shares in the last quarter. Finally, Compass Rose Asset Management LP bought a new stake in shares of VersaBank in the 3rd quarter valued at about $720,000. Institutional investors own 56.86% of the company’s stock.

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.