Roth Mkm Begins Coverage on VersaBank (NASDAQ:VBNK)

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

Separately, Keefe, Bruyette & Woods initiated coverage on VersaBank in a report on Tuesday, August 27th. They issued an outperform rating and a $22.00 price objective on the stock. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $16.67.

VersaBank Stock Down 2.1 %

Shares of VersaBank stock opened at $13.03 on Friday. The firm has a market capitalization of $338.31 million, a P/E ratio of 9.87 and a beta of 0.79. The company has a 50 day moving average price of $12.43 and a 200 day moving average price of $11.06. VersaBank has a 52 week low of $7.24 and a 52 week high of $14.22.

VersaBank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $0.018 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, October 4th. VersaBank’s dividend payout ratio is presently 5.30%.

Hedge Funds Weigh In On VersaBank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orchard Capital Management LLC lifted its stake in VersaBank by 0.3% in the fourth 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. Wellington Management Group LLP raised its stake in shares of VersaBank by 287.0% during the fourth quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock worth $1,357,000 after purchasing an additional 92,166 shares during the last quarter. Cox Capital Mgt LLC raised its stake in shares of VersaBank by 5.3% during the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock worth $2,074,000 after purchasing an additional 9,802 shares during the last quarter. Cumberland Partners Ltd purchased a new stake in shares of VersaBank during the first quarter worth approximately $472,000. Finally, Acadian Asset Management LLC raised its stake in shares of VersaBank by 52.4% during the first quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock worth $689,000 after purchasing an additional 22,699 shares during the last quarter. 56.86% of the stock is owned by institutional investors and hedge funds.

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.