VersaBank (NASDAQ:VBNK) Receives $12.13 Consensus Target Price from Brokerages

VersaBank (NASDAQ:VBNK) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $12.1333.

Several research analysts recently weighed in on VBNK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VersaBank in a report on Wednesday, October 8th. Roth Capital boosted their price objective on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Zacks Research lowered VersaBank from a “hold” rating to a “strong sell” rating in a research note on Monday, December 15th.

VersaBank Stock Performance

VersaBank stock opened at $15.46 on Friday. VersaBank has a 12-month low of $8.51 and a 12-month high of $15.70. The firm has a market capitalization of $493.95 million, a price-to-earnings ratio of 23.78 and a beta of 0.94. The firm has a 50 day moving average of $13.35 and a 200 day moving average of $12.27.

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

VersaBank Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, January 9th. VersaBank’s dividend payout ratio is presently 10.77%.

Hedge Funds Weigh In On VersaBank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Connors Investor Services Inc. increased its holdings in VersaBank by 18.2% in the 3rd quarter. Connors Investor Services Inc. now owns 13,000 shares of the company’s stock valued at $159,000 after acquiring an additional 2,000 shares during the last quarter. Salzhauer Michael boosted its holdings in shares of VersaBank by 27.3% during the 3rd quarter. Salzhauer Michael now owns 21,443 shares of the company’s stock valued at $262,000 after purchasing an additional 4,600 shares during the last quarter. First Trust Advisors LP grew its position in shares of VersaBank by 33.0% during the second quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock valued at $237,000 after purchasing an additional 5,144 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of VersaBank by 5.8% in the third quarter. TD Waterhouse Canada Inc. now owns 148,391 shares of the company’s stock worth $1,804,000 after purchasing an additional 8,080 shares during the last quarter. Finally, Militia Capital Partners LP lifted its position in shares of VersaBank by 16.7% in the third quarter. Militia Capital Partners LP now owns 70,000 shares of the company’s stock worth $855,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 56.86% of the company’s stock.

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.