Canton Hathaway LLC Buys Shares of 4,875 VersaBank (NASDAQ:VBNK)

Canton Hathaway LLC acquired a new stake in VersaBank (NASDAQ:VBNK) during the 1st quarter, Holdings Channel.com reports. The firm acquired 4,875 shares of the company’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCW Group Inc. purchased a new stake in shares of VersaBank in the 4th quarter valued at $4,155,000. Raymond James Financial Inc. purchased a new stake in shares of VersaBank in the 4th quarter valued at $1,442,000. Mendon Capital Advisors Corp raised its holdings in shares of VersaBank by 65.6% in the 4th quarter. Mendon Capital Advisors Corp now owns 887,253 shares of the company’s stock valued at $12,288,000 after buying an additional 351,511 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of VersaBank in the 4th quarter valued at $1,223,000. Finally, Bank of America Corp DE raised its holdings in shares of VersaBank by 182.4% in the 4th quarter. Bank of America Corp DE now owns 46,648 shares of the company’s stock valued at $646,000 after buying an additional 30,131 shares during the period. Hedge funds and other institutional investors own 56.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Roth Capital set a $10.40 price objective on VersaBank in a report on Thursday, March 6th. Raymond James Financial reiterated an “outperform” rating and issued a $13.00 price objective (down previously from $15.00) on shares of VersaBank in a report on Thursday, June 5th. Finally, Roth Mkm downgraded VersaBank from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $10.40 in a report on Thursday, March 6th.

VersaBank Stock Performance

NASDAQ:VBNK opened at $11.29 on Friday. The stock has a 50-day simple moving average of $11.11 and a 200-day simple moving average of $12.16. The stock has a market cap of $367.15 million, a P/E ratio of 14.29 and a beta of 0.99. VersaBank has a 1 year low of $8.51 and a 1 year high of $18.38.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings data on Wednesday, June 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $21.87 million for the quarter, compared to analyst estimates of $20.77 million. VersaBank had a return on equity of 7.97% and a net margin of 10.70%. On average, equities research analysts predict that VersaBank will post 1.46 EPS for the current year.

VersaBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 4th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.10 annualized dividend and a dividend yield of 0.89%. VersaBank’s dividend payout ratio is currently 8.86%.

VersaBank Company Profile

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.