VersaBank (NASDAQ:VBNK) Trading Down 0.8%

VersaBank (NASDAQ:VBNK)’s share price traded down 0.8% on Friday . The company traded as low as $9.72 and last traded at $9.80. 10,070 shares were traded during trading, a decline of 62% from the average session volume of 26,569 shares. The stock had previously closed at $9.88.

VersaBank Trading Down 0.8 %

The firm has a market cap of $254.41 million, a price-to-earnings ratio of 7.72 and a beta of 0.78. The company’s 50-day moving average is $10.50 and its 200-day moving average is $9.87.

VersaBank (NASDAQ:VBNK) last issued its earnings results on Wednesday, March 6th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. VersaBank had a return on equity of 12.14% and a net margin of 17.59%. The firm had revenue of $21.35 million for the quarter, compared to the consensus estimate of $22.05 million. Equities research analysts forecast that VersaBank will post 1.45 EPS for the current year.

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a dividend of $0.0184 per share. This represents a $0.07 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, April 4th. VersaBank’s payout ratio is 3.15%.

Institutional Investors Weigh In On VersaBank

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of VersaBank by 24.5% during the 3rd quarter. Acadian Asset Management LLC now owns 41,005 shares of the company’s stock valued at $320,000 after acquiring an additional 8,071 shares in the last quarter. Wellington Management Group LLP raised its position in VersaBank by 287.0% in the fourth quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after purchasing an additional 92,166 shares during the last quarter. Cox Capital Mgt LLC boosted its stake in shares of VersaBank by 5.3% during the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock valued at $2,074,000 after purchasing an additional 9,802 shares in the last quarter. Orchard Capital Management LLC boosted its stake in shares of VersaBank by 0.3% during the fourth quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of VersaBank by 9.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock worth $3,819,000 after purchasing an additional 29,982 shares during the last quarter. 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.