Curi RMB Capital LLC Has $5.93 Million Position in VersaBank (NASDAQ:VBNK)

by · The Cerbat Gem

Curi RMB Capital LLC lessened its holdings in shares of VersaBank (NASDAQ:VBNK – Free Report) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 446,322 shares of the company’s stock after selling 67,228 shares during the quarter. Curi RMB Capital LLC owned approximately 1.72% of VersaBank worth $5,927,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pembroke Management LTD bought a new position in shares of VersaBank during the 2nd quarter valued at $377,000. Cumberland Partners Ltd bought a new position in VersaBank during the first quarter valued at about $472,000. Dimensional Fund Advisors LP lifted its position in shares of VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock worth $540,000 after buying an additional 15,462 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of VersaBank by 52.4% during the 1st quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock valued at $689,000 after acquiring an additional 22,699 shares during the last quarter. Finally, ELCO Management Co. LLC raised its stake in shares of VersaBank by 4.1% in the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock valued at $892,000 after acquiring an additional 3,234 shares in the last quarter. 56.86% of the stock is currently owned by institutional investors and hedge funds.

VersaBank Trading Down 0.7 %

Shares of VersaBank stock opened at $16.42 on Friday. VersaBank has a 1 year low of $7.50 and a 1 year high of $17.06. The company’s fifty day simple moving average is $14.22 and its 200-day simple moving average is $12.10. The company has a market cap of $426.43 million, a price-to-earnings ratio of 12.63 and a beta of 0.76.

VersaBank (NASDAQ:VBNK – Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.08). The company had revenue of $19.72 million during the quarter, compared to analyst estimates of $21.83 million. VersaBank had a return on equity of 11.85% and a net margin of 16.24%. As a group, research analysts forecast that VersaBank will post 1.21 earnings per share for the current fiscal year.

VersaBank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $0.018 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.07 annualized dividend and a yield of 0.44%. VersaBank’s dividend payout ratio is 5.38%.

Analyst Ratings Changes

A number of brokerages have issued reports on VBNK. Raymond James reaffirmed an “outperform” rating and set a $17.00 target price (up previously from $15.00) on shares of VersaBank in a research report on Friday, November 8th. Roth Capital upgraded shares of VersaBank to a “strong-buy” rating in a research note on Friday, September 27th. Roth Mkm began coverage on shares of VersaBank in a research report on Friday, September 27th. They set a “buy” rating and a $18.00 target price for the company. Finally, Keefe, Bruyette & Woods assumed coverage on shares of VersaBank in a report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price target for the company. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, VersaBank has an average rating of “Buy” and an average target price of $19.00.

View Our Latest Research Report on VBNK

VersaBank Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding VBNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VersaBank (NASDAQ:VBNK – Free Report).