Round Rock Advisors LLC Raises Stake in VersaBank (NASDAQ:VBNK)

Round Rock Advisors LLC lifted its holdings in shares of VersaBank (NASDAQ:VBNK - Free Report) by 126.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 44,665 shares of the company's stock after purchasing an additional 24,965 shares during the period. Round Rock Advisors LLC owned about 0.14% of VersaBank worth $463,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in VersaBank by 73.2% in the 4th quarter. Alliancebernstein L.P. now owns 2,708,715 shares of the company's stock worth $37,516,000 after acquiring an additional 1,144,620 shares during the last quarter. Rhino Investment Partners Inc bought a new stake in VersaBank in the 4th quarter worth $12,389,000. Wellington Management Group LLP bought a new stake in VersaBank in the 4th quarter worth $5,886,000. Pacific Ridge Capital Partners LLC bought a new stake in VersaBank in the 4th quarter worth $5,588,000. Finally, Kennedy Capital Management LLC bought a new stake in VersaBank in the 4th quarter worth $5,235,000. Institutional investors own 56.86% of the company's stock.

VersaBank Price Performance

VersaBank stock traded down $0.12 during trading hours on Friday, reaching $11.64. The stock had a trading volume of 65,723 shares, compared to its average volume of 73,804. The company has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $11.71. VersaBank has a 52 week low of $8.51 and a 52 week high of $18.38. The stock has a market cap of $378.53 million, a PE ratio of 14.73 and a beta of 0.96.

VersaBank (NASDAQ:VBNK - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). VersaBank had a return on equity of 7.97% and a net margin of 10.70%. The company had revenue of $21.87 million during the quarter, compared to analysts' expectations of $20.77 million. Research analysts predict that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reissued an "outperform" rating and issued a $13.00 price target (down previously from $15.00) on shares of VersaBank in a report on Thursday, June 5th.

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.