VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 13,000 shares, a growth of 41.3% from the August 15th total of 9,200 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 35,100 shares, the short-interest ratio is currently 0.4 days.

VersaBank Stock Performance

NASDAQ VBNK opened at $13.25 on Monday. The stock has a market capitalization of $344.02 million, a P/E ratio of 10.04 and a beta of 0.79. VersaBank has a 1 year low of $7.24 and a 1 year high of $14.22. The business’s fifty day moving average is $12.04 and its two-hundred day moving average is $10.91.

VersaBank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $0.018 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.07 annualized dividend and a dividend yield of 0.54%. VersaBank’s dividend payout ratio is currently 5.30%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods started coverage on VersaBank in a report on Tuesday, August 27th. They issued an “outperform” rating and a $22.00 price target on the stock.

Institutional Trading of VersaBank

Large investors have recently added to or reduced their stakes in the company. Cumberland Partners Ltd acquired a new stake in VersaBank during the 1st quarter valued at $472,000. Acadian Asset Management LLC raised its stake in VersaBank by 52.4% during the 1st 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 during the period. Wellington Management Group LLP raised its stake in VersaBank by 287.0% during the 4th quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after purchasing an additional 92,166 shares during the period. Orchard Capital Management LLC raised its stake in VersaBank by 0.3% during the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after purchasing an additional 1,000 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in VersaBank by 9.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after purchasing an additional 29,982 shares during the period. 56.86% of the stock is owned by institutional investors and hedge funds.

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.