Short Interest in VersaBank (NASDAQ:VBNK) Declines By 78.2%

VersaBank (NASDAQ:VBNKGet Rating) saw a large drop in short interest in 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 shares of the company are short sold. Based on an average daily volume of 16,300 shares, the short-interest ratio is presently 0.2 days.

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

VBNK opened at $8.95 on Thursday. The company’s 50 day simple moving average is $10.35 and its two-hundred day simple moving average is $11.35. VersaBank has a 1-year low of $8.02 and a 1-year high of $14.30. The firm has a market capitalization of $245.60 million and a price-to-earnings ratio of 12.09.

VersaBank (NASDAQ:VBNKGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $14.81 million. VersaBank had a return on equity of 10.16% and a net margin of 23.07%. On average, sell-side analysts forecast that VersaBank will post 0.71 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, April 30th. Stockholders of record on Friday, April 8th were issued a dividend of $0.02 per share. 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 0.89%. VersaBank’s dividend payout ratio is currently 10.81%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. acquired a new stake in shares of VersaBank during the 3rd quarter worth approximately $8,836,000. Russell Investments Group Ltd. acquired a new stake in shares of VersaBank during the 3rd quarter worth approximately $344,000. Cox Capital Mgt LLC acquired a new stake in shares of VersaBank during the 4th quarter worth approximately $639,000. Jacobs Asset Management LLC increased its holdings in shares of VersaBank by 7.0% during the 4th quarter. Jacobs Asset Management LLC now owns 535,150 shares of the company’s stock worth $6,374,000 after buying an additional 35,150 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in VersaBank in the 3rd quarter valued at approximately $797,000. Institutional investors and hedge funds own 24.31% of the company’s stock.

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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