VersaBank (NASDAQ:VBNK) Receives $12.13 Average Price Target from Analysts

Shares of VersaBank (NASDAQ:VBNK) have been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $12.1333.

A number of brokerages recently weighed in on VBNK. Zacks Research downgraded shares of VersaBank from a “hold” rating to a “strong sell” rating in a research report on Monday, December 15th. Roth Capital upped their target price on shares of VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Wall Street Zen upgraded shares of VersaBank from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VersaBank in a report on Wednesday, October 8th.

Hedge Funds Weigh In On VersaBank

Several institutional investors have recently modified their holdings of the business. Rhino Investment Partners Inc increased its stake in shares of VersaBank by 5.4% during the 1st quarter. Rhino Investment Partners Inc now owns 943,064 shares of the company’s stock worth $9,770,000 after purchasing an additional 48,547 shares during the last quarter. Acadian Asset Management LLC increased its position in VersaBank by 66.2% during the first quarter. Acadian Asset Management LLC now owns 289,497 shares of the company’s stock worth $2,964,000 after buying an additional 115,300 shares during the last quarter. K2 Principal Fund L.P. raised its stake in VersaBank by 103.3% in the first quarter. K2 Principal Fund L.P. now owns 41,982 shares of the company’s stock valued at $435,000 after buying an additional 21,336 shares during the period. Trexquant Investment LP acquired a new stake in shares of VersaBank in the first quarter valued at approximately $112,000. Finally, Pembroke Management LTD boosted its stake in shares of VersaBank by 27.3% during the 2nd quarter. Pembroke Management LTD now owns 429,607 shares of the company’s stock worth $4,898,000 after acquiring an additional 92,262 shares during the period. Institutional investors own 56.86% of the company’s stock.

VersaBank Stock Up 1.5%

VBNK stock opened at $15.07 on Wednesday. VersaBank has a twelve month low of $8.51 and a twelve month high of $15.24. The company has a market cap of $481.49 million, a P/E ratio of 23.18 and a beta of 0.97. The business’s fifty day moving average is $12.30 and its 200-day moving average is $11.80.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings data on Wednesday, December 10th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. VersaBank had a return on equity of 7.02% and a net margin of 9.33%.The business had revenue of $25.05 million during the quarter, compared to the consensus estimate of $24.48 million. Research analysts anticipate that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 9th. VersaBank’s payout ratio is presently 10.77%.

VersaBank Company Profile

VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.

The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.