VersaBank (NASDAQ:VBNK) Given Consensus Rating of “Hold” by Analysts

VersaBank (NASDAQ:VBNK) has been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.2667.

Several research analysts have recently weighed in on VBNK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VersaBank in a report on Wednesday, October 8th. Wall Street Zen upgraded VersaBank from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Zacks Research upgraded shares of VersaBank from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th.

Institutional Trading of VersaBank

A number of hedge funds have recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in shares of VersaBank during the first quarter worth approximately $112,000. Connors Investor Services Inc. purchased a new stake in VersaBank during the second quarter valued at about $125,000. Citadel Advisors LLC bought a new position in shares of VersaBank during the third quarter valued at about $198,000. Salzhauer Michael increased its holdings in shares of VersaBank by 68.4% in the second quarter. Salzhauer Michael now owns 16,843 shares of the company’s stock worth $192,000 after buying an additional 6,843 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of VersaBank by 33.0% in the 2nd quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock valued at $237,000 after acquiring an additional 5,144 shares during the last quarter. Institutional investors own 56.86% of the company’s stock.

VersaBank Price Performance

VersaBank stock opened at $11.96 on Friday. The firm has a market capitalization of $382.07 million, a P/E ratio of 17.59 and a beta of 0.97. VersaBank has a one year low of $8.51 and a one year high of $18.38. The business has a fifty day moving average price of $12.01 and a 200-day moving average price of $11.60.

VersaBank (NASDAQ:VBNK) last posted its earnings results on Thursday, September 4th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. VersaBank had a return on equity of 7.47% and a net margin of 9.56%.The business had revenue of $22.81 million during the quarter, compared to analyst estimates of $24.01 million. Sell-side analysts expect that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 10th were given a dividend of $0.025 per share. The ex-dividend date was Friday, October 10th. This represents a $0.10 dividend on an annualized basis and a yield of 0.8%. VersaBank’s dividend payout ratio (DPR) is presently 10.29%.

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.