VersaBank (NASDAQ:VBNK) Trading Down 0.5% – Time to Sell?
by Jessica Moore · The Cerbat GemVersaBank (NASDAQ:VBNK – Get Free Report)’s share price was down 0.5% during trading on Tuesday . The company traded as low as $14.38 and last traded at $14.54. Approximately 18,330 shares were traded during trading, a decline of 50% from the average daily volume of 36,731 shares. The stock had previously closed at $14.61.
Analysts Set New Price Targets
A number of equities analysts recently commented on VBNK shares. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a report on Wednesday, January 21st. Zacks Research cut shares of VersaBank from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Finally, Roth Mkm boosted their price target on shares of VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, VersaBank currently has a consensus rating of “Hold” and a consensus price target of $13.00.
View Our Latest Stock Analysis on VBNK
VersaBank Stock Up 9.9%
The company has a market capitalization of $535.57 million, a P/E ratio of 23.86 and a beta of 0.99. The company has a 50-day moving average of $15.27 and a two-hundred day moving average of $13.95.
VersaBank (NASDAQ:VBNK – Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. VersaBank had a return on equity of 7.70% and a net margin of 10.03%.The company had revenue of $26.80 million for the quarter, compared to analyst estimates of $26.92 million. As a group, equities analysts expect that VersaBank will post 1.46 EPS for the current fiscal year.
VersaBank Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 10th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, April 10th. VersaBank’s dividend payout ratio (DPR) is 10.00%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of VBNK. Alliancebernstein L.P. increased its position in 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 buying an additional 75,358 shares in the last quarter. Mendon Capital Advisors Corp increased its position in VersaBank by 2.6% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,057,693 shares of the company’s stock valued at $15,392,000 after buying an additional 26,559 shares in the last quarter. Curi Capital LLC increased its position in VersaBank by 5.0% during the 2nd quarter. Curi Capital LLC now owns 800,000 shares of the company’s stock valued at $9,120,000 after buying an additional 38,337 shares in the last quarter. Pembroke Management LTD increased its position in VersaBank by 40.7% during the 4th quarter. Pembroke Management LTD now owns 736,222 shares of the company’s stock valued at $11,029,000 after buying an additional 213,037 shares in the last quarter. Finally, TCW Group Inc. increased its position in VersaBank by 8.2% during the 4th quarter. TCW Group Inc. now owns 674,277 shares of the company’s stock valued at $10,101,000 after buying an additional 50,900 shares in the last quarter. 56.86% of the stock is owned by hedge funds and other institutional investors.
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.