377,978 Shares in VersaBank (NASDAQ:VBNK) Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC acquired a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 377,978 shares of the company's stock, valued at approximately $5,235,000. Kennedy Capital Management LLC owned approximately 1.16% of VersaBank at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VBNK. Alliancebernstein L.P. grew its holdings in shares of VersaBank by 73.2% during the fourth quarter. Alliancebernstein L.P. now owns 2,708,715 shares of the company's stock worth $37,516,000 after purchasing an additional 1,144,620 shares during the last quarter. Wellington Management Group LLP acquired a new position in VersaBank during the 4th quarter worth about $5,886,000. Pacific Ridge Capital Partners LLC acquired a new stake in VersaBank in the 4th quarter valued at about $5,588,000. TCW Group Inc. acquired a new position in shares of VersaBank during the fourth quarter worth approximately $4,155,000. Finally, Pembroke Management LTD grew its stake in shares of VersaBank by 554.2% during the fourth quarter. Pembroke Management LTD now owns 332,764 shares of the company's stock valued at $4,609,000 after purchasing an additional 281,900 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company's stock.

VersaBank Price Performance

Shares of VersaBank stock traded up $1.48 on Friday, hitting $11.22. The company had a trading volume of 151,521 shares, compared to its average volume of 64,085. The stock has a 50-day moving average of $10.96 and a 200-day moving average of $13.50. VersaBank has a twelve month low of $8.51 and a twelve month high of $18.38. The firm has a market capitalization of $364.86 million, a P/E ratio of 10.20 and a beta of 1.01.

VersaBank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $0.025 dividend. This is an increase from VersaBank's previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.10 annualized dividend and a dividend yield of 0.89%. VersaBank's dividend payout ratio (DPR) is currently 6.38%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Roth Mkm downgraded VersaBank from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $10.40 in a report on Thursday, March 6th. Raymond James reaffirmed an "outperform" rating on shares of VersaBank in a research note on Thursday, March 6th. Finally, Roth Capital set a $10.40 target price on shares of VersaBank in a research report on Thursday, March 6th.

VersaBank Company 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.