69,189 Shares in VersaBank $VBNK Acquired by Brasada Capital Management LP

Brasada Capital Management LP acquired a new stake in VersaBank (NASDAQ:VBNK) in the 2nd quarter, Holdings Channel reports. The firm acquired 69,189 shares of the company’s stock, valued at approximately $1,606,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in VersaBank by 33.0% during the second quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock worth $237,000 after purchasing an additional 5,144 shares in the last quarter. Salzhauer Michael increased its position in shares of VersaBank by 68.4% in the second quarter. Salzhauer Michael now owns 16,843 shares of the company’s stock valued at $192,000 after buying an additional 6,843 shares in the last quarter. K2 Principal Fund L.P. purchased a new position in shares of VersaBank in the second quarter valued at $239,000. BlackRock Inc. acquired a new position in shares of VersaBank during the 2nd quarter worth $274,000. Finally, Quadrature Capital Ltd acquired a new position in shares of VersaBank during the 4th quarter worth $201,000. 56.86% of the stock is owned by institutional investors and hedge funds.

VersaBank Stock Up 3.4%

NASDAQ VBNK opened at $20.49 on Friday. VersaBank has a fifty-two week low of $10.78 and a fifty-two week high of $25.05. The business has a fifty day moving average of $20.29 and a 200-day moving average of $17.98. The stock has a market cap of $662.38 million, a price-to-earnings ratio of 29.70 and a beta of 1.06.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $28.17 million for the quarter, compared to analyst estimates of $26.86 million. VersaBank had a return on equity of 8.32% and a net margin of 9.34%. As a group, analysts anticipate that VersaBank will post 1.3 EPS for the current year.

VersaBank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 10th. VersaBank’s dividend payout ratio (DPR) is currently 10.14%.

Analysts Set New Price Targets

VBNK has been the topic of a number of research reports. Roth Capital raised shares of VersaBank from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $25.00 in a research note on Tuesday, June 30th. Zacks Research cut shares of VersaBank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings downgraded shares of VersaBank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, VersaBank presently has an average rating of “Hold” and an average target price of $25.00.

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.