Russell Investments Group Ltd. Acquires New Holdings in VersaBank (NASDAQ:VBNK)

Russell Investments Group Ltd. purchased a new stake in VersaBank (NASDAQ:VBNK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,146 shares of the company's stock, valued at approximately $307,000. Russell Investments Group Ltd. owned approximately 0.07% of VersaBank as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC acquired a new position in VersaBank during the third quarter worth about $32,000. Salzhauer Michael acquired a new stake in VersaBank during the 4th quarter valued at $137,000. Mark Sheptoff Financial Planning LLC grew its holdings in VersaBank by 55.3% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company's stock valued at $222,000 after buying an additional 5,700 shares during the last quarter. Round Rock Advisors LLC purchased a new position in VersaBank during the fourth quarter worth $273,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of VersaBank by 519.9% in the fourth quarter. JPMorgan Chase & Co. now owns 36,427 shares of the company's stock worth $505,000 after acquiring an additional 30,551 shares during the last quarter. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

VersaBank Stock Performance

Shares of NASDAQ:VBNK traded down $0.27 during trading on Wednesday, reaching $11.08. The company had a trading volume of 46,527 shares, compared to its average volume of 66,503. The firm's fifty day moving average is $10.56 and its 200 day moving average is $13.36. The firm has a market capitalization of $360.31 million, a PE ratio of 10.07 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. Shareholders of record on Friday, April 4th will be given a $0.025 dividend. The ex-dividend date is Friday, April 4th. This is a boost from VersaBank's previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.90%. VersaBank's 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.