Salzhauer Michael Invests $137,000 in VersaBank (NASDAQ:VBNK)

Salzhauer Michael acquired a new stake in VersaBank (NASDAQ:VBNK) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $137,000.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC bought a new stake in shares of VersaBank in the third quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in VersaBank in the 3rd quarter valued at approximately $137,000. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 15,462 shares during the period. Pembroke Management LTD lifted its position in shares of VersaBank by 45.2% during the third quarter. Pembroke Management LTD now owns 50,864 shares of the company’s stock worth $675,000 after acquiring an additional 15,834 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new position in shares of VersaBank in the third quarter worth $211,000. 56.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James reiterated an “outperform” rating and set a $17.00 price objective (up from $15.00) on shares of VersaBank in a research note on Friday, November 8th.

VersaBank Price Performance

Shares of NASDAQ:VBNK opened at $14.00 on Monday. The company’s fifty day moving average price is $14.26 and its 200-day moving average price is $14.03. The firm has a market capitalization of $455.14 million, a price-to-earnings ratio of 12.73 and a beta of 0.91. VersaBank has a one year low of $9.48 and a one year high of $18.38.

VersaBank (NASDAQ:VBNK) last released its earnings results on Monday, December 9th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. As a group, equities research analysts expect that VersaBank will post 1.46 EPS for the current year.

VersaBank Cuts Dividend

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

VersaBank Company Profile

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.