Rhino Investment Partners Inc Invests $12.39 Million in VersaBank (NASDAQ:VBNK)

Rhino Investment Partners Inc purchased a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 894,517 shares of the company's stock, valued at approximately $12,389,000. VersaBank accounts for about 2.7% of Rhino Investment Partners Inc's portfolio, making the stock its 16th biggest holding. Rhino Investment Partners Inc owned about 2.75% of VersaBank as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC acquired a new stake in VersaBank during the third quarter worth about $32,000. Round Rock Advisors LLC acquired a new position in VersaBank during the fourth quarter valued at approximately $273,000. Salzhauer Michael bought a new stake in VersaBank during the fourth quarter worth $137,000. Pembroke Management LTD increased its stake in shares of VersaBank by 554.2% in the 4th 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. Finally, TCW Group Inc. acquired a new position in shares of VersaBank during the 4th quarter worth $4,155,000. Institutional investors and hedge funds own 56.86% of the company's stock.

VersaBank Trading Up 0.0 %

Shares of VBNK traded up $0.01 during trading hours on Tuesday, reaching $11.11. The stock had a trading volume of 24,011 shares, compared to its average volume of 66,609. VersaBank has a 12 month low of $8.51 and a 12 month high of $18.38. The company has a market capitalization of $361.12 million, a price-to-earnings ratio of 10.10 and a beta of 0.99. The firm has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $13.23.

VersaBank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were given a dividend of $0.025 per share. This is a boost from VersaBank's previous quarterly dividend of $0.02. The ex-dividend date was Friday, April 4th. This represents a $0.10 annualized dividend and a dividend yield of 0.90%. VersaBank's payout ratio is presently 6.38%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VBNK. Roth Mkm downgraded shares of VersaBank from a "buy" rating to a "neutral" rating and reduced their price target for the company from $22.00 to $10.40 in a research note on Thursday, March 6th. Raymond James reiterated an "outperform" rating on shares of VersaBank in a research report on Thursday, March 6th. Finally, Roth Capital set a $10.40 price target on shares of VersaBank in a 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.