Kennedy Capital Management LLC Trims Stock Position in VersaBank $VBNK

Kennedy Capital Management LLC trimmed its holdings in VersaBank (NASDAQ:VBNK) by 24.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 298,220 shares of the company’s stock after selling 94,130 shares during the period. Kennedy Capital Management LLC’s holdings in VersaBank were worth $3,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VBNK. Trexquant Investment LP purchased a new stake in VersaBank in the first quarter valued at $112,000. Connors Investor Services Inc. acquired a new stake in shares of VersaBank during the 2nd quarter worth about $125,000. Geode Capital Management LLC acquired a new stake in shares of VersaBank during the 2nd quarter worth about $293,000. K2 Principal Fund L.P. raised its holdings in VersaBank by 103.3% in the 1st quarter. K2 Principal Fund L.P. now owns 41,982 shares of the company’s stock valued at $435,000 after buying an additional 21,336 shares during the period. Finally, Royal Bank of Canada lifted its position in VersaBank by 107.2% in the first quarter. Royal Bank of Canada now owns 56,371 shares of the company’s stock valued at $585,000 after buying an additional 29,169 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VBNK. Zacks Research raised shares of VersaBank from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of VersaBank from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, VersaBank has a consensus rating of “Hold” and an average target price of $11.27.

VersaBank Price Performance

NASDAQ VBNK opened at $12.35 on Friday. The company has a market cap of $394.58 million, a P/E ratio of 18.16 and a beta of 0.97. The stock has a 50-day moving average of $11.97 and a two-hundred day moving average of $11.63. VersaBank has a 1-year low of $8.51 and a 1-year high of $18.04.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Thursday, September 4th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $22.81 million during the quarter, compared to analyst estimates of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. On average, analysts anticipate that VersaBank will post 1.46 EPS for the current fiscal year.

About VersaBank

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.