VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 12,800 shares, a decline of 60.5% from the March 31st total of 32,400 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 30,200 shares, the short-interest ratio is presently 0.4 days.

VersaBank Trading Down 0.3 %

VersaBank stock opened at $9.88 on Friday. VersaBank has a 12-month low of $6.36 and a 12-month high of $12.19. The firm has a 50-day moving average price of $10.63 and a 200-day moving average price of $9.79. The firm has a market capitalization of $256.48 million, a PE ratio of 7.78 and a beta of 0.77.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings data on Wednesday, March 6th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. VersaBank had a net margin of 17.59% and a return on equity of 12.14%. The company had revenue of $21.35 million for the quarter, compared to analyst estimates of $22.05 million. As a group, sell-side analysts predict that VersaBank will post 1.45 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a dividend of $0.0184 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, April 4th. VersaBank’s dividend payout ratio is currently 3.15%.

Hedge Funds Weigh In On VersaBank

Several hedge funds have recently bought and sold shares of VBNK. Mendon Capital Advisors Corp purchased a new stake in shares of VersaBank in the fourth quarter valued at approximately $9,136,000. Hillsdale Investment Management Inc. lifted its position in shares of VersaBank by 9.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after buying an additional 29,982 shares during the last quarter. Orchard Capital Management LLC boosted its holdings in shares of VersaBank by 0.3% in the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after buying an additional 1,000 shares in the last quarter. Cox Capital Mgt LLC lifted its position in VersaBank by 5.3% during the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock valued at $2,074,000 after acquiring an additional 9,802 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in VersaBank by 287.0% in the fourth quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after acquiring an additional 92,166 shares in the last quarter. Institutional investors 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.