VersaBank (NASDAQ:VBNK) Hits New 52-Week High – Should You Buy?

VersaBank (NASDAQ:VBNK)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $17.47 and last traded at $16.65, with a volume of 22795 shares traded. The stock had previously closed at $16.94.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VBNK. Roth Mkm raised their target price on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Zacks Research upgraded shares of VersaBank from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of VersaBank in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.00.

VersaBank Trading Down 7.2%

The firm has a fifty day moving average of $15.83 and a two-hundred day moving average of $13.48. The company has a market cap of $465.66 million, a PE ratio of 20.74 and a beta of 0.93.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings data on Wednesday, December 10th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $25.05 million for the quarter, compared to the consensus estimate of $24.48 million. VersaBank had a net margin of 9.33% and a return on equity of 7.02%. Sell-side analysts expect that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Friday, January 9th were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $0.10 annualized dividend and a yield of 0.7%. VersaBank’s dividend payout ratio (DPR) is 10.77%.

Institutional Investors Weigh In On VersaBank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of VersaBank by 107.2% during the first quarter. Royal Bank of Canada now owns 56,371 shares of the company’s stock worth $585,000 after acquiring an additional 29,169 shares in the last quarter. Pembroke Management LTD raised its stake in shares of VersaBank by 27.3% during the 2nd quarter. Pembroke Management LTD now owns 429,607 shares of the company’s stock valued at $4,898,000 after purchasing an additional 92,262 shares during the period. Geode Capital Management LLC bought a new stake in shares of VersaBank during the 2nd quarter valued at $293,000. TD Waterhouse Canada Inc. lifted its holdings in VersaBank by 13.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 140,311 shares of the company’s stock worth $1,604,000 after purchasing an additional 16,739 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in VersaBank by 33.0% in the 2nd quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock worth $237,000 after purchasing an additional 5,144 shares during the period. Institutional investors own 56.86% of the company’s stock.

VersaBank Company Profile

VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.

The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.