Short Interest in VersaBank (NASDAQ:VBNK) Expands By 121.2%

VersaBank (NASDAQ:VBNK) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 30,300 shares, a growth of 121.2% from the September 30th total of 13,700 shares. Based on an average daily trading volume, of 39,500 shares, the short-interest ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.

VersaBank Trading Up 1.8 %

VBNK traded up $0.26 during trading on Monday, reaching $14.97. 16,447 shares of the company’s stock were exchanged, compared to its average volume of 28,515. VersaBank has a one year low of $7.25 and a one year high of $15.78. The firm has a fifty day moving average price of $13.50 and a two-hundred day moving average price of $11.58. The stock has a market capitalization of $388.77 million, a PE ratio of 11.54 and a beta of 0.79.

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

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $0.018 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.07 annualized dividend and a yield of 0.48%. VersaBank’s payout ratio is 5.38%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VBNK shares. Roth Capital raised VersaBank to a “strong-buy” rating in a research note on Friday, September 27th. Keefe, Bruyette & Woods assumed coverage on shares of VersaBank in a report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Roth Mkm initiated coverage on shares of VersaBank in a research report on Friday, September 27th. They issued a “buy” rating and a $18.00 target price on the stock. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $16.67.

Institutional Trading of VersaBank

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in VersaBank by 287.0% in 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 in the last quarter. Cumberland Partners Ltd acquired a new stake in shares of VersaBank in the 1st quarter valued at about $472,000. Acadian Asset Management LLC raised its stake in VersaBank by 52.4% during the 1st quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock worth $689,000 after buying an additional 22,699 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in VersaBank by 17.5% in the first quarter. Hillsdale Investment Management Inc. now owns 408,794 shares of the company’s stock worth $4,321,000 after acquiring an additional 60,881 shares in the last quarter. Finally, Pembroke Management LTD acquired a new stake in VersaBank in the second quarter valued at approximately $377,000. 56.86% of the stock is currently owned by institutional investors and hedge funds.

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.