Wellington Management Group LLP Raises Stock Holdings in VersaBank (NASDAQ:VBNK)

Wellington Management Group LLP raised its position in shares of VersaBank (NASDAQ:VBNK) by 287.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,283 shares of the company’s stock after buying an additional 92,166 shares during the quarter. Wellington Management Group LLP owned about 0.48% of VersaBank worth $1,357,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Mendon Capital Advisors Corp bought a new position in shares of VersaBank during the fourth quarter valued at $9,136,000. Orchard Capital Management LLC grew its stake in shares of VersaBank by 0.3% in the fourth quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock worth $3,617,000 after acquiring an additional 1,000 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of VersaBank by 9.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock worth $3,819,000 after acquiring an additional 29,982 shares during the period. 56.86% of the stock is owned by hedge funds and other institutional investors.

VersaBank Stock Down 2.5 %

Shares of VersaBank stock opened at $10.49 on Tuesday. VersaBank has a twelve month low of $7.24 and a twelve month high of $12.19. The company’s 50 day moving average is $10.07 and its 200 day moving average is $10.58. The company has a market cap of $272.32 million, a price-to-earnings ratio of 7.95 and a beta of 0.77.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings results on Wednesday, June 5th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $21.01 million for the quarter, compared to analysts’ expectations of $21.54 million. VersaBank had a return on equity of 12.26% and a net margin of 17.02%. Sell-side analysts expect that VersaBank will post 1.4 EPS for the current fiscal year.

VersaBank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $0.018 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.07 annualized dividend and a yield of 0.69%. VersaBank’s payout ratio is 5.30%.

About VersaBank

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.