Goldman Sachs Group Inc. Sells 2,195 Shares of VersaBank $VBNK

Goldman Sachs Group Inc. trimmed its position in shares of VersaBank (NASDAQ:VBNK) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,271 shares of the company’s stock after selling 2,195 shares during the period. Goldman Sachs Group Inc.’s holdings in VersaBank were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VBNK. Wellington Management Group LLP bought a new position in shares of VersaBank during the fourth quarter valued at about $5,886,000. Pacific Ridge Capital Partners LLC raised its stake in shares of VersaBank by 46.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 590,623 shares of the company’s stock valued at $6,119,000 after acquiring an additional 187,160 shares during the last quarter. Mendon Capital Advisors Corp raised its stake in shares of VersaBank by 14.1% during the first quarter. Mendon Capital Advisors Corp now owns 1,012,523 shares of the company’s stock valued at $10,490,000 after acquiring an additional 125,270 shares during the last quarter. Curi RMB Capital LLC raised its stake in shares of VersaBank by 19.6% during the first quarter. Curi RMB Capital LLC now owns 761,663 shares of the company’s stock valued at $7,891,000 after acquiring an additional 125,000 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of VersaBank by 66.2% during the first quarter. Acadian Asset Management LLC now owns 289,497 shares of the company’s stock valued at $2,964,000 after acquiring an additional 115,300 shares during the last quarter. 56.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VBNK. Wall Street Zen raised shares of VersaBank from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $13.00 price objective (down from $15.00) on shares of VersaBank in a research note on Thursday, June 5th. Finally, Zacks Research downgraded shares of VersaBank from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.27.

VersaBank Price Performance

VBNK stock opened at $12.58 on Tuesday. VersaBank has a 1 year low of $8.51 and a 1 year high of $18.38. The firm has a 50-day moving average of $11.51 and a 200 day moving average of $11.13. The company has a market cap of $404.70 million, a P/E ratio of 18.50 and a beta of 0.96.

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

VersaBank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.8%. VersaBank’s dividend payout ratio (DPR) is currently 10.29%.

VersaBank 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.