VersaBank (NASDAQ:VBNK) Shares Acquired by Pembroke Management LTD

Pembroke Management LTD raised its holdings in shares of VersaBank (NASDAQ:VBNK) by 45.2% in the third quarter, Holdings Channel.com reports. The firm owned 50,864 shares of the company’s stock after buying an additional 15,834 shares during the period. Pembroke Management LTD’s holdings in VersaBank were worth $675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mendon Capital Advisors Corp boosted its stake in shares of VersaBank by 6.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company’s stock valued at $904,000 after buying an additional 4,817 shares during the last quarter. ELCO Management Co. LLC boosted its stake in VersaBank by 4.1% during the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock valued at $892,000 after acquiring an additional 3,234 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in VersaBank by 44.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock worth $540,000 after acquiring an additional 15,462 shares in the last quarter. Acadian Asset Management LLC grew its holdings in VersaBank by 52.2% during the 2nd quarter. Acadian Asset Management LLC now owns 100,466 shares of the company’s stock worth $1,067,000 after acquiring an additional 34,462 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of VersaBank by 17.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 408,794 shares of the company’s stock worth $4,321,000 after purchasing an additional 60,881 shares during the last quarter. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods initiated coverage on shares of VersaBank in a research report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price target on the stock. Roth Capital raised VersaBank to a “strong-buy” rating in a report on Friday, September 27th. Finally, Roth Mkm started coverage on VersaBank in a research report on Friday, September 27th. They set a “buy” rating and a $18.00 price target on the stock. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.67.

VersaBank Stock Up 1.5 %

VBNK stock opened at $15.22 on Friday. The firm’s 50-day simple moving average is $13.78 and its 200 day simple moving average is $11.75. The stock has a market cap of $395.26 million, a PE ratio of 11.71 and a beta of 0.75. VersaBank has a fifty-two week low of $7.36 and a fifty-two week high of $15.78.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). VersaBank had a net margin of 16.24% and a return on equity of 11.85%. The business had revenue of $19.72 million for the quarter, compared to the consensus estimate of $21.83 million. Equities analysts forecast that VersaBank will post 1.21 EPS for the current fiscal year.

VersaBank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $0.018 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, October 4th. VersaBank’s dividend payout ratio (DPR) is presently 5.38%.

VersaBank Company Profile

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.