Short Interest in VersaBank (NASDAQ:VBNK) Drops By 60.5%

VersaBank (NASDAQ:VBNK - Get Free Report) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 12,800 shares, a drop of 60.5% from the March 31st total of 32,400 shares. Based on an average daily trading volume, of 30,200 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company's stock are short sold.

Institutional Investors Weigh In On VersaBank

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of VersaBank by 24.5% in the 3rd quarter. Acadian Asset Management LLC now owns 41,005 shares of the company's stock valued at $320,000 after purchasing an additional 8,071 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of VersaBank by 287.0% in the fourth quarter. Wellington Management Group LLP now owns 124,283 shares of the company's stock worth $1,357,000 after buying an additional 92,166 shares during the last quarter. Cox Capital Mgt LLC lifted its stake in shares of VersaBank by 5.3% during the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company's stock worth $2,074,000 after buying an additional 9,802 shares during the period. Orchard Capital Management LLC grew its holdings in shares of VersaBank by 0.3% during the fourth quarter. Orchard Capital Management LLC now owns 330,372 shares of the company's stock valued at $3,617,000 after buying an additional 1,000 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of VersaBank by 9.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company's stock valued at $3,819,000 after acquiring an additional 29,982 shares during the period. Institutional investors and hedge funds own 56.86% of the company's stock.

VersaBank Trading Down 0.3 %

Shares of VBNK traded down $0.03 during trading hours on Friday, hitting $9.88. The company had a trading volume of 8,816 shares, compared to its average volume of 27,699. The company has a market capitalization of $256.48 million, a PE ratio of 7.78 and a beta of 0.77. VersaBank has a one year low of $6.36 and a one year high of $12.19. The company's fifty day moving average price is $10.63 and its two-hundred day moving average price is $9.79.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. The firm had revenue of $21.35 million for the quarter, compared to the consensus estimate of $22.05 million. VersaBank had a net margin of 17.59% and a return on equity of 12.14%. Analysts forecast that VersaBank will post 1.45 earnings per share for the current year.

VersaBank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a $0.0184 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 4th. VersaBank's dividend payout ratio (DPR) is presently 3.15%.

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.

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