VersaBank (NASDAQ:VBNK) Shares Down 0.8%

VersaBank (NASDAQ:VBNK) traded down 0.8% during mid-day trading 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 Price Performance

The firm’s fifty day simple moving average is $10.50 and its 200 day simple moving average is $9.87. The company has a market capitalization of $254.41 million, a PE ratio of 7.72 and a beta of 0.78.

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

VersaBank Announces Dividend

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

Hedge Funds Weigh In On VersaBank

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in shares of VersaBank by 24.5% in the third 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. Hillsdale Investment Management Inc. grew its stake in VersaBank by 9.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after acquiring an additional 29,982 shares in the last quarter. Orchard Capital Management LLC lifted its position in VersaBank by 0.3% during the fourth quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock worth $3,617,000 after buying an additional 1,000 shares in the last quarter. Mendon Capital Advisors Corp purchased a new position in shares of VersaBank during the 4th quarter worth $9,136,000. Finally, Wellington Management Group LLP boosted its holdings in VersaBank by 287.0% in the 4th 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. Hedge funds and other institutional investors own 56.86% of the company’s stock.

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.