VersaBank (NASDAQ:VBNK) Hits New 52-Week High – Should You Buy?

by · The Markets Daily

Shares of VersaBank (NASDAQ:VBNK – Get Free Report) 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 traded. The stock had previously closed at $16.80.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Roth Mkm lifted their target price on VersaBank from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Zacks Research raised shares of VersaBank from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of VersaBank in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.00.

Get Our Latest Stock Report on VersaBank

VersaBank Price Performance

The stock has a 50 day moving average of $15.68 and a 200 day moving average of $13.26. The firm has a market cap of $540.56 million, a P/E ratio of 26.00 and a beta of 0.95.

VersaBank (NASDAQ:VBNK – Get Free Report) last released its earnings results on Wednesday, December 10th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $25.05 million during the quarter, compared to the consensus estimate of $24.48 million. VersaBank had a return on equity of 7.02% and a net margin of 9.33%. On average, research analysts predict that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Friday, January 9th were issued a $0.025 dividend. The ex-dividend date was Friday, January 9th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. VersaBank’s payout ratio is currently 10.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. 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 purchasing an additional 26,559 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of VersaBank in the fourth quarter worth $201,000. Millennium Management LLC purchased a new position in VersaBank in the fourth quarter worth about $587,000. TCW Group Inc. boosted its stake 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 purchasing an additional 50,900 shares during the last quarter. Finally, Mudita Advisors LLP purchased a new stake in shares of VersaBank during the 4th quarter valued at about $1,462,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.

About VersaBank

(Get Free Report)

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.

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