VersaBank (NASDAQ:VBNK) Receives Consensus Recommendation of “Hold” from Analysts

Shares of VersaBank (NASDAQ:VBNK) have received an average rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.1333.

VBNK has been the subject of several analyst reports. Wall Street Zen raised VersaBank from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Roth Capital lifted their price objective on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of VersaBank from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th.

Hedge Funds Weigh In On VersaBank

Institutional investors and hedge funds have recently modified their holdings of the company. CSM Advisors LLC purchased a new stake in VersaBank during the third quarter worth approximately $3,418,000. Mendon Capital Advisors Corp increased its stake in VersaBank by 14.1% in the first quarter. Mendon Capital Advisors Corp now owns 1,012,523 shares of the company’s stock valued at $10,490,000 after purchasing an additional 125,270 shares during the last quarter. Curi RMB Capital LLC raised its holdings in VersaBank by 19.6% during the first quarter. Curi RMB Capital LLC now owns 761,663 shares of the company’s stock worth $7,891,000 after purchasing an additional 125,000 shares in the last quarter. Acadian Asset Management LLC raised its holdings in VersaBank by 66.2% during the first quarter. Acadian Asset Management LLC now owns 289,497 shares of the company’s stock worth $2,964,000 after purchasing an additional 115,300 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of VersaBank by 3.8% during the 1st quarter. Alliancebernstein L.P. now owns 2,811,013 shares of the company’s stock worth $29,122,000 after buying an additional 102,298 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

VersaBank Stock Up 0.4%

Shares of VBNK stock opened at $14.45 on Wednesday. VersaBank has a 52 week low of $8.51 and a 52 week high of $14.69. The stock has a market capitalization of $461.68 million, a PE ratio of 22.23 and a beta of 0.97. The firm has a 50 day moving average of $12.14 and a two-hundred day moving average of $11.73.

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

VersaBank Announces Dividend

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

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.