VersaBank (NASDAQ:VBNK) Stock Rating Lowered by Zacks Research
by Sarita Garza · The Markets DailyVersaBank (NASDAQ:VBNK – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.
Several other research analysts also recently weighed in on VBNK. Roth Mkm lifted their target price on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.00.
VersaBank Stock Performance
Shares of VBNK opened at $13.93 on Thursday. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $17.47. The company has a market capitalization of $446.74 million, a price-to-earnings ratio of 19.90 and a beta of 0.93. The firm has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $13.63.
VersaBank (NASDAQ:VBNK – Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $26.80 million for the quarter, compared to analysts’ expectations of $26.92 million. VersaBank had a return on equity of 7.70% and a net margin of 10.03%. Equities research analysts forecast that VersaBank will post 1.46 EPS for the current year.
Hedge Funds Weigh In On VersaBank
Several institutional investors and hedge funds have recently added to or reduced their stakes in VBNK. Connors Investor Services Inc. raised its stake in shares of 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 in the last quarter. Salzhauer Michael lifted its holdings in shares of VersaBank by 27.3% in the 3rd quarter. Salzhauer Michael now owns 21,443 shares of the company’s stock valued at $262,000 after buying an additional 4,600 shares during the period. First Trust Advisors LP boosted its stake in shares of VersaBank by 33.0% in the second quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock valued at $237,000 after buying an additional 5,144 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of VersaBank by 5.8% in the third quarter. TD Waterhouse Canada Inc. now owns 148,391 shares of the company’s stock valued at $1,804,000 after buying an additional 8,080 shares in the last quarter. Finally, Militia Capital Partners LP grew its holdings in VersaBank by 16.7% during the third quarter. Militia Capital Partners LP now owns 70,000 shares of the company’s stock worth $855,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds 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.