VersaBank (NASDAQ:VBNK) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm assumed coverage on shares of VersaBank (NASDAQ:VBNK) in a report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $18.00 price objective on the stock.

Separately, Keefe, Bruyette & Woods initiated coverage on VersaBank in a research note on Tuesday, August 27th. They set an outperform rating and a $22.00 price target on the stock. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $16.67.

VersaBank Price Performance

VBNK opened at $13.28 on Friday. The stock has a market cap of $344.75 million, a P/E ratio of 10.06 and a beta of 0.79. The stock’s 50 day simple moving average is $12.43 and its 200 day simple moving average is $11.07. VersaBank has a 1-year low of $7.24 and a 1-year high of $14.22.

VersaBank (NASDAQ:VBNK) last posted its earnings results on Thursday, September 5th. The company reported $0.26 earnings per share (EPS) 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 company had revenue of $19.72 million during the quarter, compared to analysts’ expectations of $21.83 million. Research analysts expect that VersaBank will post 1.23 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $0.018 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.07 dividend on an annualized basis and a yield of 0.54%. VersaBank’s dividend payout ratio is currently 5.30%.

Hedge Funds Weigh In On VersaBank

Large investors have recently bought and sold shares of the business. Cumberland Partners Ltd acquired a new position in shares of VersaBank during the first quarter valued at approximately $472,000. Acadian Asset Management LLC boosted its stake in shares of VersaBank by 52.4% during the 1st quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock valued at $689,000 after buying an additional 22,699 shares during the period. Wellington Management Group LLP lifted its stake in shares of VersaBank by 287.0% in the 4th 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 during the last quarter. ELCO Management Co. LLC lifted its stake in shares of VersaBank by 4.1% in the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock valued at $892,000 after purchasing an additional 3,234 shares during the last quarter. Finally, Orchard Capital Management LLC lifted its stake in shares of VersaBank by 0.3% in the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 56.86% of the company’s stock.

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.