Short Interest in VersaBank (NASDAQ:VBNK) Increases By 95.8%

VersaBank (NASDAQ:VBNKGet Rating) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 4,700 shares, a growth of 95.8% from the March 15th total of 2,400 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 20,500 shares, the short-interest ratio is presently 0.2 days.

Several institutional investors and hedge funds have recently bought and sold shares of VBNK. Patriot Financial Partners GP LP raised its position in shares of VersaBank by 9.0% during the fourth quarter. Patriot Financial Partners GP LP now owns 1,089,724 shares of the company’s stock worth $12,968,000 after purchasing an additional 89,724 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of VersaBank during the third quarter worth $8,836,000. Mendon Capital Advisors Corp acquired a new stake in shares of VersaBank during the third quarter worth $7,033,000. Jacobs Asset Management LLC raised its position in shares of VersaBank by 7.0% during the fourth quarter. Jacobs Asset Management LLC now owns 535,150 shares of the company’s stock worth $6,374,000 after purchasing an additional 35,150 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of VersaBank during the third quarter worth $3,495,000. 24.25% of the stock is currently owned by institutional investors.

VBNK opened at $11.11 on Friday. VersaBank has a one year low of $10.30 and a one year high of $14.30. The stock has a fifty day moving average price of $11.28. The company has a market cap of $304.80 million and a P/E ratio of 15.01.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 30th. Stockholders of record on Friday, April 8th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, April 7th. VersaBank’s dividend payout ratio is presently 10.81%.

Separately, Zacks Investment Research raised VersaBank from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Saturday, March 5th.

VersaBank Company Profile (Get Rating)

VersaBank, a schedule I chartered bank, provides various banking products and services in Canada. The company offers deposit products, such as guaranteed investment certificates, registered retirement savings plans, daily interest savings accounts, and tax-free savings accounts, as well as deposit insurance products.

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