85,000 Shares in VersaBank (NASDAQ:VBNK) Acquired by Mount Lucas Management LP

Mount Lucas Management LP bought a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 85,000 shares of the company's stock, valued at approximately $881,000. Mount Lucas Management LP owned 0.26% of VersaBank at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Round Rock Advisors LLC boosted its stake 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 during the period. Canton Hathaway LLC purchased a new position in VersaBank in the first quarter worth approximately $51,000. Wellington Management Group LLP purchased a new position in VersaBank in the fourth quarter worth approximately $5,886,000. Polar Asset Management Partners Inc. purchased a new position in VersaBank in the fourth quarter worth approximately $579,000. Finally, K2 Principal Fund L.P. lifted its stake in VersaBank by 30.1% in the fourth quarter. K2 Principal Fund L.P. now owns 20,646 shares of the company's stock worth $286,000 after acquiring an additional 4,780 shares during the last quarter. Hedge funds and other institutional investors own 56.86% of the company's stock.

Wall Street Analyst Weigh In

Separately, Raymond James Financial restated 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.

VersaBank Stock Down 0.1%

Shares of VersaBank stock traded down $0.01 on Friday, hitting $11.57. The company's stock had a trading volume of 34,596 shares, compared to its average volume of 35,624. VersaBank has a 52-week low of $8.51 and a 52-week high of $18.38. The firm has a fifty day moving average price of $11.43 and a 200-day moving average price of $11.59. The company has a market capitalization of $376.26 million, a P/E ratio of 14.65 and a beta of 0.96.

VersaBank (NASDAQ:VBNK - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.03). The firm had revenue of $21.87 million during 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%. As a group, analysts expect that VersaBank will post 1.46 earnings per share for the current year.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 4th will be issued 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 yield of 0.86%. VersaBank's dividend payout ratio (DPR) is 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.