Northwest & Ethical Investments L.P. Has $52,000 Position in VersaBank (NASDAQ:VBNK)

Northwest & Ethical Investments L.P. cut its position in shares of VersaBank (NASDAQ:VBNK) by 54.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,824 shares of the company’s stock after selling 4,555 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in VersaBank were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC bought a new stake in shares of VersaBank in the 3rd quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of VersaBank in the third quarter valued at $137,000. Salzhauer Michael bought a new position in VersaBank in the fourth quarter worth $137,000. K2 Principal Fund L.P. acquired a new stake in VersaBank during the third quarter worth $211,000. Finally, Round Rock Advisors LLC bought a new stake in VersaBank in the 4th quarter valued at $273,000. 56.86% of the stock is currently owned by institutional investors.

VersaBank Price Performance

Shares of VersaBank stock opened at $10.11 on Friday. The company has a market capitalization of $328.77 million, a P/E ratio of 9.19 and a beta of 0.93. The business has a 50-day moving average of $12.57 and a two-hundred day moving average of $13.99. VersaBank has a 1 year low of $9.48 and a 1 year high of $18.38.

VersaBank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.025 per share. This is an increase from VersaBank’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, April 4th. VersaBank’s dividend payout ratio (DPR) is 6.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VBNK shares. Raymond James reaffirmed an “outperform” rating on shares of VersaBank in a report on Thursday, March 6th. Roth Capital set a $10.40 price objective on VersaBank in a report on Thursday, March 6th. Finally, Roth Mkm cut VersaBank from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $10.40 in a report on Thursday, March 6th.

VersaBank 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.