VersaBank (NASDAQ:VBNK) Given Average Rating of “Hold” by Brokerages

Shares of VersaBank (NASDAQ:VBNK) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $11.2667.

A number of research analysts have issued reports on VBNK shares. Zacks Research lowered shares of VersaBank from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 9th. Wall Street Zen upgraded shares of VersaBank from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of VersaBank in a report on Wednesday, October 8th.

Hedge Funds Weigh In On VersaBank

A number of institutional investors have recently made changes to their positions in VBNK. Round Rock Advisors LLC raised its position in shares of VersaBank by 126.7% in the 1st quarter. Round Rock Advisors LLC now owns 44,665 shares of the company’s stock valued at $463,000 after purchasing an additional 24,965 shares in the last quarter. Mount Lucas Management LP acquired a new stake in shares of VersaBank in the 1st quarter valued at about $881,000. TCW Group Inc. raised its stake in shares of VersaBank by 7.3% in the 1st quarter. TCW Group Inc. now owns 321,853 shares of the company’s stock valued at $3,334,000 after purchasing an additional 21,853 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of VersaBank by 46.4% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 590,623 shares of the company’s stock valued at $6,119,000 after purchasing an additional 187,160 shares in the last quarter. Finally, Rhino Investment Partners Inc raised its stake in VersaBank by 5.4% during the first quarter. Rhino Investment Partners Inc now owns 943,064 shares of the company’s stock valued at $9,770,000 after buying an additional 48,547 shares in the last quarter. 56.86% of the stock is owned by institutional investors and hedge funds.

VersaBank Trading Up 2.7%

Shares of NASDAQ VBNK opened at $12.19 on Tuesday. The stock has a market cap of $391.66 million, a price-to-earnings ratio of 17.93 and a beta of 0.97. VersaBank has a 52 week low of $8.51 and a 52 week high of $18.38. The company’s 50-day moving average price is $12.04 and its 200 day moving average price is $11.53.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings results on Thursday, September 4th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $22.81 million for the quarter, compared to analyst estimates of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. As a group, research analysts expect that VersaBank will post 1.46 earnings per share for the current year.

VersaBank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were paid a $0.025 dividend. The ex-dividend date was Friday, October 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.8%. VersaBank’s payout ratio is 10.29%.

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.