Boothbay Fund Management LLC Purchases Shares of 101,778 VersaBank (NASDAQ:VBNK)

Boothbay Fund Management LLC bought a new stake in VersaBank (NASDAQ:VBNK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 101,778 shares of the company's stock, valued at approximately $1,410,000. Boothbay Fund Management LLC owned about 0.31% of VersaBank at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. TCW Group Inc. acquired a new stake in shares of VersaBank during the fourth quarter worth $4,155,000. Raymond James Financial Inc. acquired a new stake in shares of VersaBank in the fourth quarter valued at approximately $1,442,000. Mendon Capital Advisors Corp boosted its stake in shares of VersaBank by 65.6% in the fourth quarter. Mendon Capital Advisors Corp now owns 887,253 shares of the company's stock valued at $12,288,000 after buying an additional 351,511 shares during the period. Intact Investment Management Inc. acquired a new stake in VersaBank during the fourth quarter worth approximately $1,223,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of VersaBank during the 4th quarter valued at $307,000. Institutional investors own 56.86% of the company's stock.

VersaBank Price Performance

VBNK stock traded up $0.05 during trading on Friday, reaching $11.26. 29,170 shares of the company were exchanged, compared to its average volume of 66,904. VersaBank has a twelve month low of $8.51 and a twelve month high of $18.38. The company has a market capitalization of $366.16 million, a price-to-earnings ratio of 10.24 and a beta of 1.01. The company has a 50-day moving average of $10.47 and a two-hundred day moving average of $13.26.

VersaBank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, April 4th. This is a positive change from VersaBank's previous quarterly dividend of $0.02. VersaBank's payout ratio is 6.38%.

Analyst Ratings Changes

VBNK has been the subject of several recent analyst reports. Raymond James reaffirmed an "outperform" rating on shares of VersaBank in a research report on Thursday, March 6th. Roth Capital set a $10.40 price objective on shares of VersaBank in a research report on Thursday, March 6th. Finally, Roth Mkm downgraded VersaBank from a "buy" rating to a "neutral" rating and reduced their target price for the company from $22.00 to $10.40 in a report on Thursday, March 6th.

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.