VersaBank (NASDAQ:VBNK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of VersaBank (NASDAQ:VBNK) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.1333.

A number of research analysts recently weighed in on VBNK shares. Zacks Research lowered VersaBank from a “hold” rating to a “strong sell” rating in a report on Monday, December 15th. Roth Capital lifted their price objective on shares of VersaBank from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VersaBank in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On VersaBank

Institutional investors have recently made changes to their positions in the company. Connors Investor Services Inc. bought a new position in shares of VersaBank during the second quarter worth approximately $125,000. Salzhauer Michael grew its holdings in VersaBank by 68.4% in the 2nd quarter. Salzhauer Michael now owns 16,843 shares of the company’s stock valued at $192,000 after buying an additional 6,843 shares in the last quarter. Citadel Advisors LLC acquired a new position in VersaBank in the 3rd quarter valued at $198,000. First Trust Advisors LP increased its position in VersaBank by 33.0% during the 2nd quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock worth $237,000 after buying an additional 5,144 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of VersaBank during the second quarter worth $293,000. Institutional investors own 56.86% of the company’s stock.

VersaBank Stock Performance

Shares of VBNK stock opened at $15.02 on Friday. VersaBank has a 52-week low of $8.51 and a 52-week high of $15.58. The stock has a market cap of $479.89 million, a price-to-earnings ratio of 23.11 and a beta of 0.94. The firm’s 50-day moving average is $13.21 and its 200-day moving average is $12.20.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $25.05 million for the quarter, compared to the consensus estimate of $24.48 million. VersaBank had a return on equity of 7.02% and a net margin of 9.33%. Sell-side analysts predict that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 9th. VersaBank’s dividend payout ratio is currently 10.77%.

VersaBank Company Profile

VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.

The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.