VersaBank (NASDAQ:VBNK) Short Interest Up 31.2% in January

VersaBank (NASDAQ:VBNK) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 79,000 shares, a growth of 31.2% from the December 31st total of 60,200 shares. Based on an average daily volume of 99,600 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.5% of the shares of the company are short sold.

VersaBank Trading Up 2.7 %

VBNK traded up $0.37 during midday trading on Friday, hitting $13.84. 188,030 shares of the company were exchanged, compared to its average volume of 67,657. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38. The firm has a market capitalization of $449.94 million, a price-to-earnings ratio of 12.58 and a beta of 0.91. The company’s 50 day simple moving average is $14.63 and its 200 day simple moving average is $13.95.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings results on Monday, December 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. On average, equities analysts anticipate that VersaBank will post 1.46 EPS for the current year.

VersaBank Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were issued a $0.0177 dividend. This represents a $0.07 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, January 10th. VersaBank’s payout ratio is presently 6.36%.

Wall Street Analyst Weigh In

Separately, Raymond James reaffirmed an “outperform” rating and issued a $17.00 price target (up previously from $15.00) on shares of VersaBank in a report on Friday, November 8th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VBNK. Barclays PLC purchased a new stake in shares of VersaBank during the third quarter worth $32,000. Salzhauer Michael purchased a new stake in shares of VersaBank during the 4th quarter valued at approximately $137,000. Mark Sheptoff Financial Planning LLC purchased a new stake in VersaBank in the third quarter valued at $137,000. K2 Principal Fund L.P. purchased a new stake in VersaBank in the 3rd quarter valued at about $211,000. Finally, Round Rock Advisors LLC acquired a new position in shares of VersaBank in the 4th quarter worth approximately $273,000. 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.