Wellington Management Group LLP Invests $5.89 Million in VersaBank (NASDAQ:VBNK)

Wellington Management Group LLP purchased a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 425,000 shares of the company's stock, valued at approximately $5,886,000. Wellington Management Group LLP owned approximately 1.31% of VersaBank at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salzhauer Michael bought a new position in shares of VersaBank during the 4th quarter worth $137,000. XTX Topco Ltd bought a new position in shares of VersaBank during the 4th quarter worth $159,000. First Trust Advisors LP bought a new position in shares of VersaBank during the 4th quarter worth $217,000. Mark Sheptoff Financial Planning LLC grew its position in shares of VersaBank by 55.3% during 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 in the last quarter. Finally, Bank of Montreal Can grew 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 buying an additional 1,841 shares in the last quarter. Institutional investors own 56.86% of the company's stock.

VersaBank Price Performance

NASDAQ VBNK traded down $0.01 during trading on Friday, hitting $10.39. The company's stock had a trading volume of 67,594 shares, compared to its average volume of 70,365. The company has a market cap of $337.87 million, a PE ratio of 9.45 and a beta of 0.99. The business's 50 day simple moving average is $10.79 and its 200-day simple moving average is $12.55. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $21.87 million during the quarter, compared to analyst estimates of $20.77 million. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. Analysts expect that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently declared 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. This represents a $0.10 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, July 3rd. VersaBank's dividend payout ratio is presently 6.38%.

Analysts Set New Price Targets

VBNK has been the topic of a number of recent research reports. Roth Mkm downgraded VersaBank from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $10.40 in a research report on Thursday, March 6th. Raymond James reaffirmed 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. Finally, Roth Capital set a $10.40 price objective on VersaBank in a research report on Thursday, March 6th.

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.