VersaBank (NASDAQ:VBNK) Hits New 12-Month High – Should You Buy?

VersaBank (NASDAQ:VBNK) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $17.00 and last traded at $17.0550, with a volume of 11022 shares trading hands. The stock had previously closed at $16.80.

Wall Street Analysts Forecast Growth

VBNK has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a report on Wednesday, January 21st. Roth Mkm raised their price target on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Zacks Research upgraded VersaBank from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.00.

VersaBank Stock Down 2.5%

The company has a market cap of $529.16 million, a PE ratio of 25.38 and a beta of 0.95. The firm has a 50 day simple moving average of $15.75 and a 200-day simple moving average of $13.33.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings results on Wednesday, December 10th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. VersaBank had a net margin of 9.33% and a return on equity of 7.02%. The business had revenue of $25.05 million for the quarter, compared to analysts’ expectations of $24.48 million. As a group, equities analysts anticipate that VersaBank will post 1.46 EPS for the current year.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Friday, January 9th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, January 9th. VersaBank’s dividend payout ratio (DPR) is 10.77%.

Institutional Trading of VersaBank

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Connors Investor Services Inc. grew its stake in VersaBank by 18.2% during the 3rd quarter. Connors Investor Services Inc. now owns 13,000 shares of the company’s stock worth $159,000 after buying an additional 2,000 shares during the last quarter. Salzhauer Michael boosted its holdings in VersaBank by 27.3% in the third quarter. Salzhauer Michael now owns 21,443 shares of the company’s stock worth $262,000 after acquiring an additional 4,600 shares in the last quarter. First Trust Advisors LP boosted its holdings in VersaBank by 33.0% in the second quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock worth $237,000 after acquiring an additional 5,144 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of VersaBank by 5.8% during the third quarter. TD Waterhouse Canada Inc. now owns 148,391 shares of the company’s stock worth $1,804,000 after acquiring an additional 8,080 shares during the last quarter. Finally, Militia Capital Partners LP increased its holdings in shares of VersaBank by 16.7% during the third quarter. Militia Capital Partners LP now owns 70,000 shares of the company’s stock valued at $855,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Company Profile

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.