VersaBank (NASDAQ:VBNK) Now Covered by Roth Mkm

Equities researchers at Roth Mkm started coverage on shares of VersaBank (NASDAQ:VBNK) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Roth Mkm’s target price indicates a potential upside of 38.14% from the stock’s current price.

Separately, Keefe, Bruyette & Woods started coverage on VersaBank in a report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 target price on the stock. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $16.67.

VersaBank Trading Down 2.1 %

Shares of VBNK opened at $13.03 on Friday. VersaBank has a 1 year low of $7.24 and a 1 year high of $14.22. The stock has a market cap of $338.26 million, a P/E ratio of 9.87 and a beta of 0.79. The stock’s 50-day moving average price is $12.43 and its two-hundred day moving average price is $11.05.

Hedge Funds Weigh In On VersaBank

Institutional investors have recently modified their holdings of the business. Pembroke Management LTD bought a new position in shares of VersaBank during the 2nd quarter valued at about $377,000. Cumberland Partners Ltd bought a new position in shares of VersaBank during the 1st quarter valued at about $472,000. Dimensional Fund Advisors LP lifted its holdings in shares of VersaBank by 44.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock valued at $540,000 after purchasing an additional 15,462 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of VersaBank by 52.4% during the 1st quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock valued at $689,000 after purchasing an additional 22,699 shares in the last quarter. Finally, ELCO Management Co. LLC lifted its stake in VersaBank by 4.1% in the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock valued at $892,000 after acquiring an additional 3,234 shares in the last quarter. Institutional investors 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.