VersaBank (NASDAQ:VBNK) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm began coverage on shares of VersaBank (NASDAQ:VBNK) in a report released on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $18.00 price objective on the stock.

Separately, Keefe, Bruyette & Woods assumed coverage on VersaBank in a research report on Tuesday, August 27th. They set an outperform rating and a $22.00 target price on the stock. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $16.67.

VersaBank Stock Down 2.1 %

VBNK opened at $13.03 on Friday. The firm has a market cap of $338.31 million, a P/E ratio of 9.87 and a beta of 0.79. VersaBank has a 52 week low of $7.24 and a 52 week high of $14.22. The business’s fifty day simple moving average is $12.43 and its 200 day simple moving average is $11.06.

VersaBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.018 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.07 dividend on an annualized basis and a yield of 0.55%. VersaBank’s dividend payout ratio (DPR) is presently 5.30%.

Institutional Investors Weigh In On VersaBank

A number of hedge funds have recently bought and sold shares of VBNK. Wellington Management Group LLP grew its position in shares of VersaBank by 287.0% in the 4th quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock worth $1,357,000 after acquiring an additional 92,166 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of VersaBank by 17.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 408,794 shares of the company’s stock worth $4,321,000 after acquiring an additional 60,881 shares in the last quarter. Cumberland Partners Ltd acquired a new position in shares of VersaBank in the 1st quarter worth approximately $472,000. Pembroke Management LTD acquired a new position in shares of VersaBank in the 2nd quarter worth approximately $377,000. Finally, Acadian Asset Management LLC grew its position in shares of VersaBank by 52.2% in the 2nd quarter. Acadian Asset Management LLC now owns 100,466 shares of the company’s stock worth $1,067,000 after acquiring an additional 34,462 shares in the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

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.