Trexquant Investment LP Purchases New Position in VersaBank $VBNK

Trexquant Investment LP acquired a new stake in shares of VersaBank (NASDAQ:VBNK) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,837 shares of the company’s stock, valued at approximately $112,000.

Other hedge funds have also recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC boosted its stake in shares of VersaBank by 46.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 590,623 shares of the company’s stock worth $6,119,000 after acquiring an additional 187,160 shares in the last quarter. Rhino Investment Partners Inc lifted its stake in VersaBank by 5.4% in the 1st quarter. Rhino Investment Partners Inc now owns 943,064 shares of the company’s stock valued at $9,770,000 after buying an additional 48,547 shares in the last quarter. Bank of America Corp DE lifted its stake in VersaBank by 182.4% in the 4th quarter. Bank of America Corp DE now owns 46,648 shares of the company’s stock valued at $646,000 after buying an additional 30,131 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in VersaBank in the 4th quarter valued at about $579,000. Finally, TCW Group Inc. lifted its stake in VersaBank by 7.3% in the 1st quarter. TCW Group Inc. now owns 321,853 shares of the company’s stock valued at $3,334,000 after buying an additional 21,853 shares in the last quarter. 56.86% of the stock is owned by institutional investors and hedge funds.

VersaBank Stock Up 0.7%

NASDAQ:VBNK opened at $12.14 on Thursday. The company has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $11.03. The company has a market cap of $390.54 million, a price-to-earnings ratio of 17.85 and a beta of 0.96. VersaBank has a 52 week low of $8.51 and a 52 week high of $18.38.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $22.81 million during the quarter, compared to the consensus estimate of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. On average, analysts expect that VersaBank will post 1.46 EPS for the current year.

VersaBank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a $0.025 dividend. The ex-dividend date is Friday, October 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.8%. VersaBank’s payout ratio is 10.29%.

Wall Street Analyst Weigh In

VBNK has been the topic of a number of research reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $13.00 price target (down from $15.00) on shares of VersaBank in a research note on Thursday, June 5th. Wall Street Zen raised shares of VersaBank from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, VersaBank currently has an average rating of “Hold” and a consensus target price of $11.27.

About VersaBank

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.