Compass Rose Asset Management LP Purchases Shares of 59,000 VersaBank $VBNK

Compass Rose Asset Management LP acquired a new stake in VersaBank (NASDAQ:VBNK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 59,000 shares of the company’s stock, valued at approximately $720,000. VersaBank accounts for about 0.1% of Compass Rose Asset Management LP’s portfolio, making the stock its 15th largest position. Compass Rose Asset Management LP owned about 0.18% of VersaBank at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in VersaBank by 107.2% in the 1st quarter. Royal Bank of Canada now owns 56,371 shares of the company’s stock valued at $585,000 after purchasing an additional 29,169 shares during the last quarter. Geode Capital Management LLC bought a new position in VersaBank during the second quarter worth about $293,000. TD Waterhouse Canada Inc. increased its position in VersaBank by 13.5% during the second quarter. TD Waterhouse Canada Inc. now owns 140,311 shares of the company’s stock worth $1,604,000 after buying an additional 16,739 shares during the last quarter. First Trust Advisors LP increased its position in VersaBank by 33.0% during the second quarter. First Trust Advisors LP now owns 20,753 shares of the company’s stock worth $237,000 after buying an additional 5,144 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in VersaBank by 1.1% in the second quarter. Alliancebernstein L.P. now owns 2,840,626 shares of the company’s stock valued at $32,383,000 after buying an additional 29,613 shares during the period. 56.86% of the stock is currently owned by institutional investors and hedge funds.

VersaBank Stock Down 1.6%

VersaBank stock opened at $13.93 on Friday. The company’s 50-day moving average price is $15.75 and its two-hundred day moving average price is $13.65. The stock has a market cap of $446.74 million, a P/E ratio of 19.90 and a beta of 0.93. VersaBank has a twelve month low of $8.51 and a twelve month high of $17.47.

VersaBank (NASDAQ:VBNK) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. VersaBank had a return on equity of 7.70% and a net margin of 10.03%.The company had revenue of $26.80 million during the quarter, compared to analysts’ expectations of $26.92 million. Equities analysts anticipate that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 10th will be paid a $0.025 dividend. The ex-dividend date is Friday, April 10th. This represents a $0.10 annualized dividend and a yield of 0.7%. VersaBank’s payout ratio is 10.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Zacks Research cut VersaBank from a “hold” rating to a “strong sell” rating in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a research note on Wednesday, January 21st. Finally, Roth Mkm raised their price target on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.00.

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.