Rosenthal Henry Capital Advisors Inc. Decreases Stock Position in VersaBank $VBNK

Rosenthal Henry Capital Advisors Inc. cut its position in VersaBank (NASDAQ:VBNK) by 34.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,426 shares of the company’s stock after selling 68,800 shares during the quarter. VersaBank comprises about 1.8% of Rosenthal Henry Capital Advisors Inc.’s holdings, making the stock its 27th largest position. Rosenthal Henry Capital Advisors Inc. owned about 0.41% of VersaBank worth $1,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VBNK. CSM Advisors LLC purchased a new stake in VersaBank in the 3rd quarter worth about $3,418,000. Pembroke Management LTD lifted its holdings in VersaBank by 40.7% during the fourth quarter. Pembroke Management LTD now owns 736,222 shares of the company’s stock valued at $11,029,000 after purchasing an additional 213,037 shares during the last quarter. Mudita Advisors LLP bought a new position in VersaBank during the fourth quarter worth about $1,462,000. Alliancebernstein L.P. increased its stake in shares of VersaBank by 2.7% in the third quarter. Alliancebernstein L.P. now owns 2,915,984 shares of the company’s stock worth $35,604,000 after purchasing an additional 75,358 shares in the last quarter. Finally, Compass Rose Asset Management LP purchased a new position in shares of VersaBank in the third quarter worth about $720,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of VersaBank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. Zacks Research raised VersaBank from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, Roth Mkm upgraded VersaBank from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $25.00 in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

VersaBank Trading Up 2.2%

Shares of NASDAQ:VBNK opened at $23.72 on Thursday. The company has a 50 day moving average of $18.74 and a 200 day moving average of $16.54. The stock has a market cap of $763.78 million, a P/E ratio of 34.38 and a beta of 1.04. VersaBank has a 12 month low of $10.10 and a 12 month high of $25.05.

VersaBank (NASDAQ:VBNK) last posted its earnings results on Wednesday, June 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $28.17 million for the quarter, compared to analysts’ expectations of $26.86 million. VersaBank had a net margin of 9.34% and a return on equity of 8.32%. On average, equities analysts forecast that VersaBank will post 1.3 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.10 annualized dividend and a yield of 0.4%. VersaBank’s dividend payout ratio (DPR) is currently 10.14%.

About VersaBank

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.