VersaBank (NASDAQ:VBNK) Shares Down 6.6% – What’s Next?

by · The Markets Daily

VersaBank (NASDAQ:VBNK – Get Free Report)’s stock price was down 6.6% during mid-day trading on Thursday . The stock traded as low as $18.30 and last traded at $18.74. Approximately 47,027 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 59,616 shares. The stock had previously closed at $20.07.

Analysts Set New Price Targets

Several research analysts recently issued reports on VBNK shares. Zacks Research raised shares of VersaBank from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of VersaBank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, VersaBank currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

View Our Latest Analysis on VBNK

VersaBank Trading Down 6.3%

The company’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $15.45. The firm has a market cap of $605.68 million, a P/E ratio of 26.87 and a beta of 1.10.

VersaBank (NASDAQ:VBNK – Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $26.80 million for the quarter, compared to analyst estimates of $26.92 million. VersaBank had a return on equity of 7.70% and a net margin of 10.03%. On average, analysts predict that VersaBank will post 1.27 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. VersaBank’s payout ratio is currently 10.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. CSM Advisors LLC acquired a new stake in shares of VersaBank during the 3rd quarter worth approximately $3,418,000. Pembroke Management LTD grew its position in shares of VersaBank by 40.7% during the 4th quarter. Pembroke Management LTD now owns 736,222 shares of the company’s stock worth $11,029,000 after buying an additional 213,037 shares during the period. Mudita Advisors LLP acquired a new stake in shares of VersaBank during the 4th quarter worth approximately $1,462,000. Alliancebernstein L.P. grew its position in shares of VersaBank by 2.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,915,984 shares of the company’s stock worth $35,604,000 after buying an additional 75,358 shares during the period. Finally, Compass Rose Asset Management LP acquired a new stake in shares of VersaBank during the 3rd quarter worth approximately $720,000. Institutional investors own 56.86% of the company’s stock.

About VersaBank

(Get Free Report)

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.

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