Militia Capital Partners LP Grows Stock Position 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 lifted its stake in VersaBank (NASDAQ:VBNK - Free Report) by 81.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,000 shares of the company's stock after buying an additional 27,000 shares during the period. Militia Capital Partners LP owned approximately 0.18% of VersaBank worth $622,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP bought a new stake in shares of VersaBank in the fourth quarter worth about $5,886,000. Pacific Ridge Capital Partners LLC grew its stake in shares of VersaBank by 46.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 590,623 shares of the company's stock worth $6,119,000 after purchasing an additional 187,160 shares during the last quarter. Mendon Capital Advisors Corp grew its stake in shares of VersaBank by 14.1% in the first quarter. Mendon Capital Advisors Corp now owns 1,012,523 shares of the company's stock worth $10,490,000 after purchasing an additional 125,270 shares during the last quarter. Curi RMB Capital LLC grew its stake in shares of VersaBank by 19.6% in the first quarter. Curi RMB Capital LLC now owns 761,663 shares of the company's stock worth $7,891,000 after purchasing an additional 125,000 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of VersaBank by 66.2% in the first quarter. Acadian Asset Management LLC now owns 289,497 shares of the company's stock worth $2,964,000 after purchasing an additional 115,300 shares during the last quarter. Hedge funds and other institutional investors own 56.86% of the company's stock.

VersaBank Trading Down 0.2%

Shares of VBNK opened at $12.12 on Friday. VersaBank has a 1-year low of $8.51 and a 1-year high of $18.38. The firm has a fifty day simple moving average of $11.28 and a two-hundred day simple moving average of $11.02. The firm has a market cap of $389.90 million, a PE ratio of 17.82 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research cut VersaBank from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Raymond James Financial reissued an "outperform" rating and issued a $13.00 target price (down from $15.00) on shares of VersaBank in a research note on Thursday, June 5th. Finally, Wall Street Zen raised VersaBank from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.27.

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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