VersaBank (NASDAQ:VBNK) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm started coverage on shares of VersaBank (NASDAQ:VBNK) in a report published on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $18.00 target price on the stock.

Separately, Keefe, Bruyette & Woods started coverage on shares of VersaBank in a report on Tuesday, August 27th. They issued an outperform rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $16.67.

VersaBank Stock Up 1.9 %

Shares of VBNK opened at $13.28 on Friday. The stock has a market cap of $344.75 million, a price-to-earnings ratio of 10.06 and a beta of 0.79. The company has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $11.07. VersaBank has a 12 month low of $7.24 and a 12 month high of $14.22.

VersaBank (NASDAQ:VBNK) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The company had revenue of $19.72 million during the quarter, compared to analyst estimates of $21.83 million. VersaBank had a net margin of 16.24% and a return on equity of 11.85%. Equities research analysts expect that VersaBank will post 1.23 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.018 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, October 4th. VersaBank’s dividend payout ratio is presently 5.30%.

Institutional Trading of VersaBank

A number of institutional investors have recently bought and sold shares of VBNK. Hillsdale Investment Management Inc. lifted its position in VersaBank by 17.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 408,794 shares of the company’s stock valued at $4,321,000 after acquiring an additional 60,881 shares in the last quarter. Orchard Capital Management LLC increased its stake in VersaBank by 0.3% in the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after buying an additional 1,000 shares during the last quarter. Cox Capital Mgt LLC increased its stake in VersaBank by 5.3% in the 1st quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock valued at $2,074,000 after buying an additional 9,802 shares during the last quarter. Wellington Management Group LLP increased its stake in VersaBank by 287.0% in the 4th quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after buying an additional 92,166 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in VersaBank by 52.2% in the 2nd quarter. Acadian Asset Management LLC now owns 100,466 shares of the company’s stock valued at $1,067,000 after buying an additional 34,462 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

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.