VersaBank (NASDAQ:VBNK) Short Interest Up 121.2% in October

VersaBank (NASDAQ:VBNK) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 30,300 shares, an increase of 121.2% from the September 30th total of 13,700 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 39,500 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

A number of analysts have commented on VBNK shares. Keefe, Bruyette & Woods began coverage on VersaBank in a report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price objective for the company. Roth Mkm started coverage on VersaBank in a research report on Friday, September 27th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Roth Capital raised shares of VersaBank to a “strong-buy” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.67.

VersaBank Stock Up 1.8 %

VersaBank stock traded up $0.26 during mid-day trading on Monday, reaching $14.97. 16,447 shares of the company’s stock were exchanged, compared to its average volume of 28,515. The business’s fifty day simple moving average is $13.50 and its 200 day simple moving average is $11.58. VersaBank has a one year low of $7.25 and a one year high of $15.78. The firm has a market capitalization of $388.77 million, a PE ratio of 11.54 and a beta of 0.79.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The company had revenue of $19.72 million for the quarter, compared to analysts’ expectations of $21.83 million. VersaBank had a return on equity of 11.85% and a net margin of 16.24%. On average, sell-side analysts forecast that VersaBank will post 1.21 earnings per share for the current year.

VersaBank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $0.018 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.48%. VersaBank’s dividend payout ratio (DPR) is presently 5.38%.

Hedge Funds Weigh In On VersaBank

Institutional investors and hedge funds have recently bought and sold shares of the company. Pembroke Management LTD purchased a new position in shares of VersaBank in the second quarter worth about $377,000. Cumberland Partners Ltd purchased a new stake in shares of VersaBank during the first quarter worth $472,000. Dimensional Fund Advisors LP boosted its holdings in shares of VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock worth $540,000 after acquiring an additional 15,462 shares during the period. Acadian Asset Management LLC grew its position in shares of VersaBank by 52.4% in the first quarter. Acadian Asset Management LLC now owns 66,004 shares of the company’s stock valued at $689,000 after purchasing an additional 22,699 shares in the last quarter. Finally, ELCO Management Co. LLC lifted its holdings in VersaBank by 4.1% during the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock worth $892,000 after purchasing an additional 3,234 shares in the last quarter. 56.86% of the stock is owned by institutional investors.

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.