VersaBank (NASDAQ:VBNK) Cut to “Neutral” at Roth Mkm

Roth Mkm lowered shares of VersaBank (NASDAQ:VBNK) from a buy rating to a neutral rating in a research note released on Thursday, Marketbeat reports. They currently have $10.40 target price on the stock, down from their previous target price of $22.00.

Separately, Raymond James reiterated an “outperform” rating and set a $17.00 price objective (up from $15.00) on shares of VersaBank in a research note on Friday, November 8th.

VersaBank Stock Down 1.4 %

Shares of VersaBank stock opened at $10.52 on Thursday. VersaBank has a twelve month low of $9.48 and a twelve month high of $18.38. The business has a 50-day moving average price of $13.27 and a 200 day moving average price of $14.19. The firm has a market cap of $342.10 million, a PE ratio of 9.56 and a beta of 0.93.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings results on Monday, December 9th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. On average, sell-side analysts expect that VersaBank will post 1.46 EPS for the current year.

VersaBank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.025 per share. This is a positive change from VersaBank’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, April 4th. VersaBank’s payout ratio is 6.38%.

Institutional Investors Weigh In On VersaBank

Several large investors have recently bought and sold shares of VBNK. Barclays PLC purchased a new stake in shares of VersaBank in the third quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in VersaBank in the third quarter valued at approximately $137,000. Salzhauer Michael acquired a new position in VersaBank in the fourth quarter valued at approximately $137,000. XTX Topco Ltd acquired a new position in VersaBank in the fourth quarter valued at approximately $159,000. Finally, K2 Principal Fund L.P. acquired a new position in VersaBank in the third quarter valued at approximately $211,000. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

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.