Mendon Capital Advisors Corp Has $10.49 Million Holdings in VersaBank $VBNK

Key Points

• Mendon Capital Advisors Corp increased its holdings in VersaBank by 14.1% in the first quarter, owning 1,012,523 shares valued at approximately $10.49 million, making it the 5th largest holding in their portfolio.
• VersaBank recently declared a quarterly dividend of $0.025 per share, equating to an annualized dividend of $0.10 and a yield of 0.8%, with the ex-dividend date set for October 10th.
• Wall Street analysts have given VersaBank an average rating of "Hold," with a target price of $11.27, while Raymond James has set a $13.00 price objective after reaffirming an "outperform" rating.

Mendon Capital Advisors Corp lifted its position in VersaBank (NASDAQ:VBNK - Free Report) by 14.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,012,523 shares of the company's stock after acquiring an additional 125,270 shares during the period. VersaBank accounts for about 5.1% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 5th largest holding. Mendon Capital Advisors Corp owned about 3.11% of VersaBank worth $10,490,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VBNK. Canton Hathaway LLC bought a new position in VersaBank during the 1st quarter valued at approximately $51,000. Trexquant Investment LP bought a new position in VersaBank during the 1st quarter valued at approximately $112,000. K2 Principal Fund L.P. increased its position in VersaBank by 103.3% during the 1st quarter. K2 Principal Fund L.P. now owns 41,982 shares of the company's stock valued at $435,000 after buying an additional 21,336 shares in the last quarter. Round Rock Advisors LLC increased its position in VersaBank by 126.7% during the 1st quarter. Round Rock Advisors LLC now owns 44,665 shares of the company's stock valued at $463,000 after buying an additional 24,965 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in VersaBank during the 4th quarter valued at approximately $579,000. Institutional investors own 56.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VBNK. Wall Street Zen raised VersaBank from a "sell" rating to a "hold" rating in a research report on Saturday. Raymond James Financial reaffirmed an "outperform" rating and set a $13.00 price objective (down previously from $15.00) on shares of VersaBank in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $11.27.

VersaBank Trading Up 2.0%

VersaBank stock opened at $12.05 on Wednesday. The firm has a market cap of $387.65 million, a price-to-earnings ratio of 17.72 and a beta of 0.96. The stock has a fifty day simple moving average of $11.26 and a two-hundred day simple moving average of $11.02. VersaBank has a 12 month low of $8.51 and a 12 month high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $22.81 million for the quarter, compared to the consensus estimate of $24.01 million. VersaBank had a return on equity of 7.47% and a net margin of 9.56%. On average, equities research analysts forecast that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 10th. VersaBank's dividend payout ratio (DPR) is 10.29%.

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.

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