Short Interest in VersaBank (NASDAQ:VBNK) Grows By 31.2%

VersaBank (NASDAQ:VBNK) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 79,000 shares, an increase of 31.2% from the December 31st total of 60,200 shares. Based on an average daily trading volume, of 99,600 shares, the short-interest ratio is presently 0.8 days. Currently, 0.5% of the company’s shares are sold short.

VersaBank Stock Performance

NASDAQ VBNK opened at $13.42 on Friday. VersaBank has a 52 week low of $9.48 and a 52 week high of $18.38. The stock has a market capitalization of $436.15 million, a price-to-earnings ratio of 12.27 and a beta of 0.91. The stock’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $13.93.

VersaBank (NASDAQ:VBNK) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. On average, equities research analysts forecast that VersaBank will post 1.46 EPS for the current year.

VersaBank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a dividend of $0.0177 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Friday, January 10th. VersaBank’s dividend payout ratio (DPR) is 6.36%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On VersaBank

Several large investors have recently made changes to their positions in VBNK. Round Rock Advisors LLC bought a new position in shares of VersaBank in the 4th quarter valued at about $273,000. K2 Principal Fund L.P. acquired a new position in VersaBank during the third quarter worth approximately $211,000. Pembroke Management LTD raised its stake in VersaBank by 45.2% in the third quarter. Pembroke Management LTD now owns 50,864 shares of the company’s stock valued at $675,000 after buying an additional 15,834 shares during the period. Dimensional Fund Advisors LP raised its stake in VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock valued at $540,000 after buying an additional 15,462 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of VersaBank in the third quarter valued at approximately $137,000. Institutional investors and hedge funds 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.