VersaBank (NASDAQ:VBNK) Given Consensus Rating of “Hold” by Brokerages

VersaBank (NASDAQ:VBNK) has been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.1333.

A number of equities analysts have recently weighed in on the company. Roth Capital increased their price target on VersaBank from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VersaBank in a research report on Wednesday, October 8th. Zacks Research raised shares of VersaBank from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded shares of VersaBank from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th.

VersaBank Stock Performance

VBNK stock opened at $14.45 on Wednesday. VersaBank has a one year low of $8.51 and a one year high of $14.69. The firm has a market cap of $461.68 million, a PE ratio of 22.23 and a beta of 0.97. The firm’s 50 day moving average price is $12.14 and its 200-day moving average price is $11.73.

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

VersaBank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Friday, January 9th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, January 9th. VersaBank’s dividend payout ratio (DPR) is 10.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhino Investment Partners Inc grew its stake in shares of VersaBank by 5.4% in the first quarter. Rhino Investment Partners Inc now owns 943,064 shares of the company’s stock valued at $9,770,000 after buying an additional 48,547 shares in the last quarter. Trexquant Investment LP acquired a new position in VersaBank during the 1st quarter worth about $112,000. Pembroke Management LTD boosted its holdings in VersaBank by 1.4% during the 1st quarter. Pembroke Management LTD now owns 337,345 shares of the company’s stock valued at $3,495,000 after acquiring an additional 4,581 shares during the period. Royal Bank of Canada grew its position in VersaBank by 107.2% in the 1st quarter. Royal Bank of Canada now owns 56,371 shares of the company’s stock valued at $585,000 after acquiring an additional 29,169 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in VersaBank by 3.8% during the first quarter. Alliancebernstein L.P. now owns 2,811,013 shares of the company’s stock worth $29,122,000 after purchasing an additional 102,298 shares during the period. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

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.