Barclays PLC Acquires New Position in VersaBank (NASDAQ:VBNK)

Barclays PLC bought a new position in VersaBank (NASDAQ:VBNK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,420 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors also recently made changes to their positions in VBNK. Mark Sheptoff Financial Planning LLC acquired a new stake in VersaBank during the third quarter valued at approximately $137,000. K2 Principal Fund L.P. acquired a new position in shares of VersaBank during the 3rd quarter worth $211,000. Dimensional Fund Advisors LP increased its stake in shares of VersaBank by 44.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock worth $540,000 after purchasing an additional 15,462 shares during the last quarter. Pembroke Management LTD boosted its holdings in shares of VersaBank by 45.2% during the 3rd quarter. Pembroke Management LTD now owns 50,864 shares of the company’s stock worth $675,000 after buying an additional 15,834 shares during the period. Finally, ELCO Management Co. LLC boosted its holdings 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 buying an additional 3,234 shares during the period. 56.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VBNK shares. Roth Mkm started coverage on shares of VersaBank in a report on Friday, September 27th. They issued a “buy” rating and a $18.00 price target for the company. Roth Capital raised shares of VersaBank to a “strong-buy” rating in a report on Friday, September 27th. Finally, Raymond James reiterated an “outperform” rating and set a $17.00 target price (up previously from $15.00) on shares of VersaBank in a research report on Friday, November 8th.

VersaBank Stock Performance

Shares of VBNK opened at $13.43 on Friday. VersaBank has a twelve month low of $9.48 and a twelve month high of $18.38. The firm’s 50 day moving average price is $15.53 and its two-hundred day moving average price is $13.66. The firm has a market cap of $436.64 million, a P/E ratio of 12.21 and a beta of 0.91.

VersaBank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a dividend of $0.0177 per share. This represents a $0.07 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, January 10th. VersaBank’s dividend payout ratio (DPR) is currently 5.45%.

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.