Mount Lucas Management LP Invests $881,000 in VersaBank (NASDAQ:VBNK)

Mount Lucas Management LP bought a new stake in VersaBank (NASDAQ:VBNK - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 85,000 shares of the company's stock, valued at approximately $881,000. Mount Lucas Management LP owned about 0.26% of VersaBank as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Canton Hathaway LLC purchased a new position in VersaBank in the 1st quarter worth about $51,000. Salzhauer Michael acquired a new stake in VersaBank in the 4th quarter worth approximately $137,000. XTX Topco Ltd bought a new position in VersaBank in the 4th quarter worth approximately $159,000. First Trust Advisors LP bought a new position in VersaBank in the 4th quarter worth approximately $217,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in VersaBank by 55.3% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company's stock worth $222,000 after buying an additional 5,700 shares during the period. 56.86% of the stock is currently owned by institutional investors.

VersaBank Stock Down 0.1%

NASDAQ:VBNK traded down $0.01 during trading hours on Friday, reaching $11.57. The company had a trading volume of 34,096 shares, compared to its average volume of 77,189. The firm has a market capitalization of $376.26 million, a PE ratio of 14.65 and a beta of 0.96. The stock has a 50-day moving average of $11.42 and a two-hundred day moving average of $11.60. VersaBank has a one year low of $8.51 and a one year high of $18.38.

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

VersaBank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 4th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, July 3rd. VersaBank's payout ratio is 8.86%.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial restated an "outperform" rating and set a $13.00 price objective (down from $15.00) on shares of VersaBank in a research report on Thursday, June 5th.

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.