VersaBank (NASDAQ:VBNK) Shares Purchased by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp raised its holdings in VersaBank (NASDAQ:VBNK) by 6.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,056 shares of the company’s stock after acquiring an additional 4,817 shares during the quarter. VersaBank accounts for about 0.8% of Mendon Capital Advisors Corp’s holdings, making the stock its 27th biggest position. Mendon Capital Advisors Corp owned about 0.32% of VersaBank worth $904,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Pembroke Management LTD purchased a new position in shares of VersaBank in the 2nd quarter valued at about $377,000. Cumberland Partners Ltd acquired a new position in VersaBank during the first quarter worth about $472,000. Dimensional Fund Advisors LP increased its holdings in VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock valued at $540,000 after buying an additional 15,462 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of 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 acquiring an additional 22,699 shares during the period. Finally, ELCO Management Co. LLC boosted its stake in shares of 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 acquiring an additional 3,234 shares in the last quarter. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on VersaBank in a research note on Tuesday, August 27th. They issued an “outperform” rating and a $22.00 price objective for the company. Roth Mkm started coverage on VersaBank in a report on Friday, September 27th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Roth Capital raised VersaBank to a “strong-buy” rating in a research note 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $16.67.

VersaBank Stock Performance

VersaBank stock opened at $13.28 on Wednesday. VersaBank has a fifty-two week low of $7.24 and a fifty-two week high of $14.22. The company has a market capitalization of $344.75 million, a price-to-earnings ratio of 10.06 and a beta of 0.79. The stock has a fifty day moving average of $12.46 and a two-hundred day moving average of $11.09.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.26 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, analysts forecast that VersaBank will post 1.23 EPS for the current fiscal year.

VersaBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, October 4th. VersaBank’s dividend payout ratio is currently 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.