VersaBank (NASDAQ:VBNK) Short Interest Down 27.7% in October

VersaBank (NASDAQ:VBNK) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 21,900 shares, a decline of 27.7% from the October 15th total of 30,300 shares. Based on an average daily volume of 43,600 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

VersaBank Trading Up 1.5 %

NASDAQ VBNK traded up $0.24 on Friday, hitting $16.50. The company’s stock had a trading volume of 9,877 shares, compared to its average volume of 28,637. The firm has a market cap of $428.51 million, a P/E ratio of 12.63 and a beta of 0.76. VersaBank has a 52-week low of $7.52 and a 52-week high of $17.06. The company’s 50-day simple moving average is $14.22 and its 200 day simple moving average is $12.10.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The business had revenue of $19.72 million during the quarter, compared to analysts’ expectations of $21.83 million. VersaBank had a return on equity of 11.85% and a net margin of 16.24%. On average, research analysts forecast that VersaBank will post 1.21 EPS for the current fiscal year.

VersaBank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $0.018 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, October 4th. VersaBank’s dividend payout ratio is currently 5.38%.

Institutional Trading of VersaBank

Several large investors have recently bought and sold shares of VBNK. Mark Sheptoff Financial Planning LLC bought a new position in shares of VersaBank in the 3rd quarter worth about $137,000. Pembroke Management LTD purchased a new stake in shares of VersaBank in the 2nd quarter worth approximately $377,000. Cumberland Partners Ltd purchased a new position in VersaBank during the first quarter valued at $472,000. Dimensional Fund Advisors LP boosted its holdings in VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock worth $540,000 after acquiring an additional 15,462 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of VersaBank by 52.4% in the first quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock worth $689,000 after acquiring an additional 22,699 shares during the last quarter. 56.86% of the stock is owned by 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.