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

Rhino Investment Partners Inc acquired a new position in VersaBank (NASDAQ:VBNK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 894,517 shares of the company's stock, valued at approximately $12,389,000. VersaBank makes up 2.7% of Rhino Investment Partners Inc's portfolio, making the stock its 16th largest position. Rhino Investment Partners Inc owned about 2.75% of VersaBank at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC bought a new stake in shares of VersaBank in the 3rd quarter valued at approximately $32,000. Salzhauer Michael acquired a new stake in shares of VersaBank in the 4th quarter valued at $137,000. XTX Topco Ltd bought a new stake in VersaBank in the fourth quarter worth $159,000. First Trust Advisors LP acquired a new position in VersaBank during the fourth quarter worth $217,000. Finally, Mark Sheptoff Financial Planning LLC lifted its position in shares of VersaBank by 55.3% in the fourth 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 during the last quarter. 56.86% of the stock is currently owned by institutional investors and hedge funds.

VersaBank Price Performance

Shares of NASDAQ VBNK traded up $0.05 during mid-day trading on Friday, hitting $11.26. The company's stock had a trading volume of 29,170 shares, compared to its average volume of 66,904. The company's fifty day simple moving average is $10.47 and its 200-day simple moving average is $13.28. The stock has a market cap of $366.16 million, a price-to-earnings ratio of 10.24 and a beta of 1.01. VersaBank has a one year low of $8.51 and a one year high of $18.38.

VersaBank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were given a $0.025 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.89%. This is an increase from VersaBank's previous quarterly dividend of $0.02. VersaBank's dividend payout ratio (DPR) is 6.38%.

Analysts Set New Price Targets

VBNK has been the subject of a number of analyst reports. Roth Capital set a $10.40 price objective on shares of VersaBank in a research note on Thursday, March 6th. Raymond James reissued an "outperform" rating on shares of VersaBank in a research report on Thursday, March 6th. Finally, Roth Mkm lowered VersaBank from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $22.00 to $10.40 in a research note 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.