VersaBank (NASDAQ:VBNK) Short Interest Down 78.2% in May

VersaBank (NASDAQ:VBNKGet Rating) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 2,600 shares, a drop of 78.2% from the April 30th total of 11,900 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 16,300 shares, the days-to-cover ratio is presently 0.2 days.

Separately, Zacks Investment Research cut VersaBank from a “hold” rating to a “sell” rating in a research note on Wednesday.

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in VersaBank during the third quarter valued at approximately $344,000. Alliancebernstein L.P. purchased a new stake in VersaBank during the third quarter valued at approximately $8,836,000. Renaissance Technologies LLC purchased a new stake in VersaBank during the third quarter valued at approximately $797,000. Orchard Capital Managment LLC purchased a new stake in VersaBank during the third quarter valued at approximately $3,304,000. Finally, Morgan Stanley bought a new position in shares of VersaBank during the third quarter valued at approximately $305,000. Institutional investors own 24.31% of the company’s stock.

Shares of VersaBank stock traded down $0.18 on Wednesday, reaching $8.91. The company’s stock had a trading volume of 1,239 shares, compared to its average volume of 16,851. The company has a market capitalization of $244.50 million and a price-to-earnings ratio of 12.04. The firm’s fifty day simple moving average is $10.39 and its two-hundred day simple moving average is $11.36. VersaBank has a 52 week low of $8.02 and a 52 week high of $14.30.

VersaBank (NASDAQ:VBNKGet Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). VersaBank had a return on equity of 10.16% and a net margin of 23.07%. The firm had revenue of $14.42 million during the quarter, compared to the consensus estimate of $14.81 million. As a group, analysts expect that VersaBank will post 0.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, April 30th. Investors of record on Friday, April 8th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.90%. VersaBank’s dividend payout ratio is currently 10.81%.

About VersaBank (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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