Hood River Capital Management LLC Takes Position in VersaBank (NASDAQ:VBNK)

Hood River Capital Management LLC bought a new stake in VersaBank (NASDAQ:VBNK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 61,267 shares of the company's stock, valued at approximately $849,000. Hood River Capital Management LLC owned approximately 0.19% of VersaBank as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Alliancebernstein L.P. grew its stake in VersaBank by 73.2% during the 4th quarter. Alliancebernstein L.P. now owns 2,708,715 shares of the company's stock valued at $37,516,000 after purchasing an additional 1,144,620 shares in the last quarter. Wellington Management Group LLP bought a new position in VersaBank during the 4th quarter worth approximately $5,886,000. Pacific Ridge Capital Partners LLC bought a new position in VersaBank during the 4th quarter worth approximately $5,588,000. Kennedy Capital Management LLC bought a new position in VersaBank during the 4th quarter worth approximately $5,235,000. Finally, Mendon Capital Advisors Corp lifted its holdings in VersaBank by 65.6% during the 4th quarter. Mendon Capital Advisors Corp now owns 887,253 shares of the company's stock worth $12,288,000 after buying an additional 351,511 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company's stock.

Analyst Upgrades and Downgrades

VBNK has been the topic of several recent research reports. Raymond James reissued an "outperform" rating on shares of VersaBank in a report on Thursday, March 6th. Roth Capital set a $10.40 target price on shares of VersaBank in a research report on Thursday, March 6th. Finally, Roth Mkm lowered shares of VersaBank from a "buy" rating to a "neutral" rating and decreased their target price for the company from $22.00 to $10.40 in a research report on Thursday, March 6th.

VersaBank Stock Up 1.2 %

VBNK stock traded up $0.14 during midday trading on Tuesday, hitting $11.18. 7,137 shares of the company traded hands, compared to its average volume of 65,985. The business has a 50 day simple moving average of $10.60 and a 200-day simple moving average of $13.37. The stock has a market capitalization of $363.40 million, a price-to-earnings ratio of 10.16 and a beta of 1.01. VersaBank has a twelve month low of $8.51 and a twelve month high of $18.38.

VersaBank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from VersaBank's previous quarterly dividend of $0.02. VersaBank's dividend payout ratio is 6.38%.

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.