Militia Capital Partners LP Raises Stock Holdings in VersaBank $VBNK

Key Points

• Militia Capital Partners LP increased its stake in VersaBank by 81.8%, owning 60,000 shares worth $622,000 as of the latest SEC filing.
• VersaBank reported earnings of $0.22 per share, surpassing analyst estimates of $0.20, but had revenue of $22.81 million, which fell short of the $24.01 million expectation.
• A recent dividend of $0.025 per share will be paid on October 31st, representing an annualized yield of 0.8%.

Militia Capital Partners LP boosted its holdings in shares of VersaBank (NASDAQ:VBNK - Free Report) by 81.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the company's stock after purchasing an additional 27,000 shares during the period. Militia Capital Partners LP owned 0.18% of VersaBank worth $622,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VBNK. Canton Hathaway LLC acquired a new stake in shares of VersaBank during the first quarter worth $51,000. Trexquant Investment LP bought a new stake in VersaBank in the 1st quarter valued at approximately $112,000. K2 Principal Fund L.P. lifted its stake in VersaBank by 103.3% in the 1st quarter. K2 Principal Fund L.P. now owns 41,982 shares of the company's stock valued at $435,000 after acquiring an additional 21,336 shares in the last quarter. Round Rock Advisors LLC boosted its holdings in shares of VersaBank by 126.7% in 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 during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of VersaBank in the 4th quarter valued at approximately $579,000. 56.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VBNK shares. Zacks Research cut VersaBank from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Wall Street Zen raised VersaBank from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, Raymond James Financial reissued an "outperform" rating and set a $13.00 price target (down from $15.00) on shares of VersaBank in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.27.

VersaBank Stock Up 1.0%

VBNK traded up $0.12 on Wednesday, hitting $12.41. The company's stock had a trading volume of 32,779 shares, compared to its average volume of 80,602. The company's 50 day simple moving average is $11.31 and its 200-day simple moving average is $11.00. The firm has a market cap of $399.23 million, a P/E ratio of 18.25 and a beta of 0.96. VersaBank has a 12 month low of $8.51 and a 12 month high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $22.81 million during the quarter, compared to the consensus estimate of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. Equities analysts predict that VersaBank will post 1.46 earnings per share for the current fiscal 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 $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 currently 10.29%.

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.