VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 32,400 shares, a growth of 47.9% from the October 31st total of 21,900 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 44,900 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On VersaBank

Large investors have recently made changes to their positions in the business. Barclays PLC acquired a new stake in shares of VersaBank in the third quarter valued at about $32,000. K2 Principal Fund L.P. acquired a new stake in shares of VersaBank during the third quarter worth $211,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of VersaBank in the 3rd quarter worth about $137,000. Pembroke Management LTD boosted its holdings in shares of VersaBank by 45.2% in the 3rd quarter. Pembroke Management LTD now owns 50,864 shares of the company’s stock valued at $675,000 after buying an additional 15,834 shares during the period. Finally, Mendon Capital Advisors Corp grew its position in shares of VersaBank by 6.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company’s stock valued at $904,000 after buying an additional 4,817 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James restated an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of VersaBank in a report on Friday, November 8th. Keefe, Bruyette & Woods began coverage on VersaBank in a research note on Tuesday, August 27th. They issued an “outperform” rating and a $22.00 price target on the stock. Roth Mkm assumed coverage on VersaBank in a report on Friday, September 27th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Roth Capital upgraded shares of VersaBank to a “strong-buy” rating in a report on Friday, September 27th. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $19.00.

VersaBank Trading Up 0.3 %

Shares of VBNK opened at $17.99 on Friday. VersaBank has a twelve month low of $7.74 and a twelve month high of $18.38. The firm has a market capitalization of $467.74 million, a P/E ratio of 13.84 and a beta of 0.76. The stock’s fifty day simple moving average is $15.25 and its 200 day simple moving average is $12.72.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). VersaBank had a return on equity of 11.85% and a net margin of 16.24%. The firm had revenue of $19.72 million during the quarter, compared to analysts’ expectations of $21.83 million. Sell-side analysts predict that VersaBank will post 1.21 earnings per share for the current year.

VersaBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $0.018 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.07 annualized dividend and a yield of 0.40%. VersaBank’s dividend payout ratio is currently 5.38%.

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.