VersaBank (NASDAQ:VBNK – Get Rating)'s stock price was up 0.1% during mid-day trading on Tuesday . The stock traded as high as $7.83 and last traded at $7.83. Approximately 767 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 8,871 shares. The stock had previously closed at $7.82.
Analysts Set New Price Targets
Several analysts have issued reports on VBNK shares. Keefe, Bruyette & Woods started coverage on VersaBank in a research note on Monday, November 28th. They issued an "outperform" rating on the stock. Raymond James reiterated an "outperform" rating and set a $9.00 target price on shares of VersaBank in a research note on Monday, December 19th.
Get VersaBank alerts:VersaBank Stock Up 0.1 %
The company has a market cap of $213.20 million, a P/E ratio of 12.84 and a beta of 0.44. The stock has a 50 day moving average price of $7.29 and a two-hundred day moving average price of $7.26.
VersaBank (NASDAQ:VBNK – Get Rating) last issued its quarterly earnings results on Wednesday, December 7th. The company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $18.22 million for the quarter. VersaBank had a return on equity of 6.54% and a net margin of 17.14%. Equities analysts anticipate that VersaBank will post 1 EPS for the current year.VersaBank Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a dividend of $0.019 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, January 5th. VersaBank's dividend payout ratio is currently 11.48%.
Institutional Investors Weigh In On VersaBank
A number of large investors have recently added to or reduced their stakes in VBNK. Cibc World Market Inc. boosted its holdings in shares of VersaBank by 1.2% in the 2nd quarter. Cibc World Market Inc. now owns 1,306,355 shares of the company's stock valued at $9,580,000 after purchasing an additional 15,228 shares in the last quarter. Patriot Financial Partners GP LP boosted its holdings in shares of VersaBank by 0.8% in the 2nd quarter. Patriot Financial Partners GP LP now owns 1,249,724 shares of the company's stock valued at $9,098,000 after purchasing an additional 10,000 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of VersaBank by 11.1% in the 3rd quarter. Alliancebernstein L.P. now owns 1,151,265 shares of the company's stock valued at $8,036,000 after purchasing an additional 115,141 shares in the last quarter. RMB Capital Management LLC bought a new position in shares of VersaBank in the 2nd quarter valued at $3,842,000. Finally, Jacobs Asset Management LLC lifted its stake in shares of VersaBank by 2.9% in the 2nd quarter. Jacobs Asset Management LLC now owns 480,487 shares of the company's stock valued at $3,536,000 after acquiring an additional 13,644 shares during the last quarter. Institutional investors and hedge funds own 30.16% of the company's stock.
VersaBank Company Profile
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VersaBank engages in the provision of financial services. It operates through Digital Banking and DRTC. The Digital Banking segment offers business to business model using its financial technoolgy to address issues in the US banking market. The DRTC segment refers to developed IT security software and capabilities.
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