Pacific Ridge Capital Partners LLC Buys 187,160 Shares of VersaBank (NASDAQ:VBNK)

Key Points

• Pacific Ridge Capital Partners LLC increased its stake in VersaBank by 46.4%, owning 590,623 shares valued at approximately $6.12 million at the end of the recent reporting period.
• VersaBank's shares have experienced a decline of 3.8% recently, trading at $11.37, with a twelve month high of $18.38.
• The company declared a quarterly dividend of $0.025 per share, representing an annualized amount of $0.10 and a yield of 0.9%.

Pacific Ridge Capital Partners LLC grew its position in shares of VersaBank (NASDAQ:VBNK - Free Report) by 46.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 590,623 shares of the company's stock after buying an additional 187,160 shares during the period. VersaBank comprises 1.6% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 20th largest position. Pacific Ridge Capital Partners LLC owned 1.82% of VersaBank worth $6,119,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of VersaBank by 11.8% during the 4th quarter. Bank of Montreal Can now owns 17,431 shares of the company's stock worth $239,000 after purchasing an additional 1,841 shares during the period. K2 Principal Fund L.P. raised its position in shares of VersaBank by 30.1% during the 4th quarter. K2 Principal Fund L.P. now owns 20,646 shares of the company's stock worth $286,000 after purchasing an additional 4,780 shares during the period. Canton Hathaway LLC acquired a new stake in shares of VersaBank during the 1st quarter worth approximately $51,000. Salzhauer Michael acquired a new stake in VersaBank in the 4th quarter valued at approximately $137,000. Finally, XTX Topco Ltd acquired a new stake in VersaBank in the 4th quarter valued at approximately $159,000. Institutional investors own 56.86% of the company's stock.

VersaBank Stock Up 0.9%

NASDAQ VBNK traded up $0.10 on Tuesday, reaching $11.12. 19,796 shares of the stock traded hands, compared to its average volume of 75,890. The company has a market cap of $358.51 million, a price-to-earnings ratio of 14.08 and a beta of 0.96. The firm's fifty day simple moving average is $11.44 and its 200 day simple moving average is $11.50. VersaBank has a 12 month low of $8.51 and a 12 month high of $18.38.

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

VersaBank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 4th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, July 3rd. VersaBank's dividend payout ratio (DPR) is 8.86%.

Analyst Ratings Changes

Separately, Raymond James Financial reaffirmed 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.

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.