VersaBank (NASDAQ:VBNK) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its holdings in shares of VersaBank (NASDAQ:VBNK - Free Report) by 182.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,648 shares of the company's stock after purchasing an additional 30,131 shares during the period. Bank of America Corp DE owned 0.14% of VersaBank worth $646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Alliancebernstein L.P. lifted its stake in shares of VersaBank by 73.2% in the 4th quarter. Alliancebernstein L.P. now owns 2,708,715 shares of the company's stock worth $37,516,000 after acquiring an additional 1,144,620 shares during the period. Rhino Investment Partners Inc purchased a new stake in VersaBank in the 4th quarter valued at approximately $12,389,000. Wellington Management Group LLP acquired a new position in VersaBank during the 4th quarter worth approximately $5,886,000. Pacific Ridge Capital Partners LLC purchased a new position in shares of VersaBank during the 4th quarter worth approximately $5,588,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of VersaBank in the 4th quarter valued at approximately $5,235,000. 56.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VBNK. Roth Capital set a $10.40 price objective on VersaBank in a report on Thursday, March 6th. Raymond James restated an "outperform" rating and issued a $13.00 price objective (down from $15.00) on shares of VersaBank in a research report on Thursday, June 5th. Finally, Roth Mkm downgraded VersaBank from a "buy" rating to a "neutral" rating and cut their price target for the company from $22.00 to $10.40 in a report on Thursday, March 6th.

VersaBank Stock Performance

VBNK traded up $0.04 on Thursday, reaching $11.21. 9,795 shares of the company's stock were exchanged, compared to its average volume of 70,871. The company's 50 day moving average is $10.88 and its 200-day moving average is $12.43. VersaBank has a twelve month low of $8.51 and a twelve month high of $18.38. The company has a market cap of $364.54 million, a price-to-earnings ratio of 10.19 and a beta of 0.99.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $21.87 million during the quarter, compared to analyst estimates of $20.77 million. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. Sell-side analysts forecast that VersaBank will post 1.46 EPS for the current year.

VersaBank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 4th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.89%. VersaBank's dividend payout ratio (DPR) is presently 8.86%.

VersaBank Company Profile

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.