Curi RMB Capital LLC Has $7.89 Million Stake in VersaBank $VBNK

Key Points

• Curi RMB Capital LLC increased its stake in VersaBank by 19.6%, now owning approximately 761,663 shares worth about $7.89 million.
• Wall Street analysts have set a target price of $13.00 for VersaBank shares, although this is down from a previous target of $15.00.
• VersaBank recently reported a quarterly EPS of $0.18, falling short of the expected $0.21, while revenue exceeded expectations at $21.87 million.

Curi RMB Capital LLC raised its position in shares of VersaBank (NASDAQ:VBNK - Free Report) by 19.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 761,663 shares of the company's stock after acquiring an additional 125,000 shares during the quarter. Curi RMB Capital LLC owned about 2.34% of VersaBank worth $7,891,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of VersaBank during the 1st quarter worth about $51,000. Trexquant Investment LP acquired a new position in shares of VersaBank during the first quarter valued at about $112,000. First Trust Advisors LP acquired a new stake in shares of VersaBank in the 4th quarter worth about $217,000. K2 Principal Fund L.P. lifted its position in VersaBank by 30.1% in the 4th quarter. K2 Principal Fund L.P. now owns 20,646 shares of the company's stock valued at $286,000 after acquiring an additional 4,780 shares in the last quarter. Finally, Round Rock Advisors LLC lifted its holdings in shares of VersaBank by 126.7% in the first quarter. Round Rock Advisors LLC now owns 44,665 shares of the company's stock valued at $463,000 after purchasing an additional 24,965 shares in the last quarter. Institutional investors and hedge funds own 56.86% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reissued an "outperform" rating and set a $13.00 target price (down previously from $15.00) on shares of VersaBank in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, VersaBank currently has a consensus rating of "Hold" and a consensus target price of $11.27.

VersaBank Stock Performance

NASDAQ VBNK opened at $11.96 on Friday. The stock has a 50 day simple moving average of $11.23 and a two-hundred day simple moving average of $11.06. The stock has a market cap of $384.75 million, a P/E ratio of 15.14 and a beta of 0.96. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $21.87 million for the quarter, compared to analysts' expectations of $20.77 million. VersaBank had a net margin of 10.70% and a return on equity of 7.97%. Sell-side analysts predict that VersaBank will post 1.46 earnings per share for the current year.

VersaBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.8%. VersaBank's payout ratio is presently 8.86%.

VersaBank 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.

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