280,121 Shares in VersaBank $VBNK Purchased by CSM Advisors LLC

CSM Advisors LLC purchased a new position in VersaBank (NASDAQ:VBNK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 280,121 shares of the company’s stock, valued at approximately $3,418,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in shares of VersaBank by 2.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,915,984 shares of the company’s stock valued at $35,604,000 after acquiring an additional 75,358 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in shares of VersaBank by 4.0% in the second quarter. Mendon Capital Advisors Corp now owns 1,052,650 shares of the company’s stock worth $12,000,000 after acquiring an additional 40,127 shares during the last quarter. Curi Capital LLC boosted its position in shares of VersaBank by 5.0% in the second quarter. Curi Capital LLC now owns 800,000 shares of the company’s stock worth $9,120,000 after acquiring an additional 38,337 shares during the last quarter. Pembroke Management LTD grew its holdings in VersaBank by 21.8% in the third quarter. Pembroke Management LTD now owns 523,185 shares of the company’s stock valued at $6,388,000 after purchasing an additional 93,578 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in VersaBank by 18.9% in the third quarter. Kennedy Capital Management LLC now owns 354,642 shares of the company’s stock valued at $4,330,000 after purchasing an additional 56,422 shares during the period. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Stock Performance

Shares of NASDAQ:VBNK opened at $14.02 on Tuesday. The stock has a 50-day simple moving average of $15.73 and a 200-day simple moving average of $13.69. The stock has a market capitalization of $449.62 million, a P/E ratio of 20.03 and a beta of 0.93. VersaBank has a 1 year low of $8.51 and a 1 year high of $17.47.

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

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 10th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, April 10th. VersaBank’s dividend payout ratio (DPR) is currently 10.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Roth Mkm increased their price target on shares of VersaBank from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Zacks Research cut shares of VersaBank from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings restated 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 issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

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.