VersaBank (NASDAQ:VBNK) Lowered to “Neutral” Rating by Roth Mkm

VersaBank (NASDAQ:VBNK) was downgraded by Roth Mkm from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They currently have a $10.40 price target on the stock, down from their previous price target of $22.00. Roth Mkm’s target price indicates a potential downside of 0.29% from the stock’s previous close.

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

VersaBank Stock Down 12.5 %

Shares of VersaBank stock opened at $10.43 on Thursday. The firm has a market capitalization of $339.17 million, a P/E ratio of 9.48 and a beta of 0.91. The company has a 50 day moving average price of $13.39 and a 200 day moving average price of $14.21. VersaBank has a 52 week low of $9.48 and a 52 week high of $18.38.

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

Hedge Funds Weigh In On VersaBank

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of VersaBank by 11.8% during the 4th quarter. Bank of Montreal Can now owns 17,431 shares of the company’s stock valued at $239,000 after purchasing an additional 1,841 shares in the last quarter. Barclays PLC purchased a new position in shares of VersaBank during the 3rd quarter valued at approximately $32,000. K2 Principal Fund L.P. increased its holdings in shares of VersaBank by 30.1% during the 4th quarter. K2 Principal Fund L.P. now owns 20,646 shares of the company’s stock valued at $286,000 after purchasing an additional 4,780 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in shares of VersaBank by 55.3% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company’s stock valued at $222,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Salzhauer Michael purchased a new position in shares of VersaBank during the 4th quarter valued at approximately $137,000. 56.86% of the stock is 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.