VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 12,800 shares, a drop of 60.5% from the March 31st total of 32,400 shares. Based on an average daily trading volume, of 30,200 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Trading of VersaBank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in VersaBank by 24.5% in the 3rd quarter. Acadian Asset Management LLC now owns 41,005 shares of the company’s stock worth $320,000 after purchasing an additional 8,071 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of VersaBank by 287.0% during the fourth quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after purchasing an additional 92,166 shares in the last quarter. Cox Capital Mgt LLC boosted its position in shares of VersaBank by 5.3% during the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock valued at $2,074,000 after buying an additional 9,802 shares during the last quarter. Orchard Capital Management LLC raised its position in VersaBank by 0.3% in the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock worth $3,617,000 after buying an additional 1,000 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in VersaBank by 9.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after acquiring an additional 29,982 shares during the period. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Stock Down 0.3 %

Shares of NASDAQ VBNK opened at $9.88 on Friday. The stock’s 50-day simple moving average is $10.63 and its two-hundred day simple moving average is $9.79. VersaBank has a twelve month low of $6.36 and a twelve month high of $12.19. The firm has a market capitalization of $256.48 million, a P/E ratio of 7.78 and a beta of 0.77.

VersaBank (NASDAQ:VBNK) last released its earnings results on Wednesday, March 6th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $21.35 million for the quarter, compared to analysts’ expectations of $22.05 million. VersaBank had a return on equity of 12.14% and a net margin of 17.59%. As a group, research analysts anticipate that VersaBank will post 1.45 EPS for the current fiscal year.

VersaBank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.0184 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 4th. VersaBank’s dividend payout ratio (DPR) is presently 3.15%.

About VersaBank

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.