Dimensional Fund Advisors LP Sells 1,437 Shares of VersaBank (NASDAQ:VBNK)

Dimensional Fund Advisors LP reduced its position in shares of VersaBank (NASDAQ:VBNK) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,659 shares of the company’s stock after selling 1,437 shares during the period. Dimensional Fund Advisors LP owned about 0.15% of VersaBank worth $673,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VBNK. Barclays PLC bought a new position in VersaBank during the 3rd quarter valued at about $32,000. Round Rock Advisors LLC bought a new position in VersaBank during the 4th quarter valued at about $273,000. Salzhauer Michael acquired a new stake in VersaBank in the 4th quarter valued at about $137,000. Pembroke Management LTD increased its position in VersaBank by 554.2% in the 4th quarter. Pembroke Management LTD now owns 332,764 shares of the company’s stock valued at $4,609,000 after acquiring an additional 281,900 shares in the last quarter. Finally, TCW Group Inc. acquired a new stake in VersaBank in the 4th quarter valued at about $4,155,000. 56.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VBNK. Roth Mkm cut shares of VersaBank from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $10.40 in a research report on Thursday, March 6th. Roth Capital set a $10.40 price objective on shares of VersaBank in a research report on Thursday, March 6th. Finally, Raymond James restated an “outperform” rating on shares of VersaBank in a research report on Thursday, March 6th.

VersaBank Price Performance

Shares of NASDAQ:VBNK opened at $11.25 on Friday. VersaBank has a one year low of $8.51 and a one year high of $18.38. The company has a 50 day moving average of $10.41 and a 200-day moving average of $13.06. The stock has a market cap of $365.84 million, a price-to-earnings ratio of 10.23 and a beta of 0.99.

VersaBank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a dividend of $0.025 per share. This is a positive change from VersaBank’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, April 4th. This represents a $0.10 annualized dividend and a yield of 0.89%. VersaBank’s dividend payout ratio (DPR) is presently 6.38%.

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.