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

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

Institutional Investors Weigh In On VersaBank

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC acquired a new stake in shares of VersaBank during the 3rd quarter worth approximately $32,000. Salzhauer Michael acquired a new position in shares of VersaBank during the 4th quarter worth $137,000. Mark Sheptoff Financial Planning LLC acquired a new stake in VersaBank during the 3rd quarter valued at $137,000. XTX Topco Ltd acquired a new stake in VersaBank in the 4th quarter worth about $159,000. Finally, K2 Principal Fund L.P. acquired a new position in VersaBank during the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 56.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

VersaBank Trading Up 0.4 %

Shares of VBNK opened at $13.68 on Friday. The company has a market capitalization of $444.74 million, a PE ratio of 12.44 and a beta of 0.91. VersaBank has a 12 month low of $9.48 and a 12 month high of $18.38. The stock’s 50-day moving average price is $14.03 and its two-hundred day moving average price is $14.08.

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

VersaBank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were issued a $0.0177 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, January 10th. VersaBank’s dividend payout ratio is 6.36%.

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.