VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 94,000 shares, a growth of 59.6% from the February 28th total of 58,900 shares. Based on an average daily trading volume, of 103,700 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the company’s stock are sold short.

VersaBank Trading Down 1.2 %

Shares of NASDAQ VBNK opened at $9.90 on Friday. The company has a market cap of $321.94 million, a price-to-earnings ratio of 9.00 and a beta of 0.93. The stock’s 50 day simple moving average is $12.24 and its 200 day simple moving average is $13.90. VersaBank has a 12-month low of $9.48 and a 12-month high of $18.38.

VersaBank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.025 per share. This is an increase from VersaBank’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, April 4th. This represents a $0.10 annualized dividend and a dividend yield of 1.01%. VersaBank’s payout ratio is 6.38%.

Institutional Trading of VersaBank

A number of large investors have recently modified their holdings of the company. Barclays PLC bought a new position in VersaBank in the 3rd quarter worth about $32,000. Salzhauer Michael acquired a new position in shares of VersaBank during the fourth quarter worth approximately $137,000. Mark Sheptoff Financial Planning LLC bought a new position in VersaBank in the 3rd quarter worth approximately $137,000. XTX Topco Ltd bought a new position in VersaBank in the 4th quarter worth approximately $159,000. Finally, First Trust Advisors LP acquired a new stake in VersaBank in the 4th quarter valued at approximately $217,000. Institutional investors and hedge funds own 56.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on VBNK shares. Roth Capital set a $10.40 price target on VersaBank in a report on Thursday, March 6th. Roth Mkm lowered shares of VersaBank from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $10.40 in a research note on Thursday, March 6th. Finally, Raymond James reissued an “outperform” rating on shares of VersaBank in a report on Thursday, March 6th.

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.