VersaBank (NASDAQ:VBNK) Sees Large Decrease in Short Interest

VersaBank (NASDAQ:VBNK) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 48,200 shares, a decline of 39.0% from the January 15th total of 79,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 111,400 shares, the short-interest ratio is currently 0.4 days.

VersaBank Stock Up 0.4 %

NASDAQ:VBNK opened at $13.68 on Friday. The business’s 50-day simple moving average is $14.03 and its two-hundred day simple moving average is $14.08. VersaBank has a 52 week low of $9.48 and a 52 week high of $18.38. The stock has a market cap of $444.74 million, a PE ratio of 12.44 and a beta of 0.91.

VersaBank (NASDAQ:VBNK) last issued its earnings results on Monday, December 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. Sell-side analysts anticipate that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were given a $0.0177 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.52%. VersaBank’s dividend payout ratio (DPR) is presently 6.36%.

Institutional Investors Weigh In On VersaBank

A number of hedge funds and other institutional investors have recently bought and sold shares of VBNK. Bank of Montreal Can grew its stake in VersaBank by 11.8% during the fourth quarter. Bank of Montreal Can now owns 17,431 shares of the company’s stock worth $239,000 after buying an additional 1,841 shares during the period. Barclays PLC purchased a new stake in shares of VersaBank in the third quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC lifted its holdings in VersaBank by 55.3% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company’s stock worth $222,000 after purchasing an additional 5,700 shares during the last quarter. Salzhauer Michael bought a new position in VersaBank during the fourth quarter valued at about $137,000. Finally, XTX Topco Ltd bought a new position in shares of VersaBank in the fourth quarter valued at approximately $159,000. Institutional investors and hedge funds own 56.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James reiterated an “outperform” rating and set a $17.00 price objective (up from $15.00) on shares of VersaBank in a research report on Friday, November 8th.

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.