Stifel Financial Corp Invests $1.14 Million in VersaBank (NASDAQ:VBNK)

Stifel Financial Corp purchased a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 81,925 shares of the company's stock, valued at approximately $1,135,000. Stifel Financial Corp owned approximately 0.25% of VersaBank as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of VBNK. Barclays PLC purchased a new position in shares of VersaBank in the third quarter valued at $32,000. Round Rock Advisors LLC bought a new position in shares of VersaBank in the fourth quarter worth about $273,000. Salzhauer Michael bought a new position in shares of VersaBank in the fourth quarter worth about $137,000. Pembroke Management LTD increased its stake in VersaBank by 554.2% in the 4th quarter. Pembroke Management LTD now owns 332,764 shares of the company's stock worth $4,609,000 after acquiring an additional 281,900 shares during the last quarter. Finally, TCW Group Inc. purchased a new stake in VersaBank during the fourth quarter valued at approximately $4,155,000. Institutional investors and hedge funds own 56.86% of the company's stock.

Analyst Upgrades and Downgrades

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

VersaBank Stock Down 0.7%

NASDAQ:VBNK traded down $0.08 during trading hours on Wednesday, reaching $11.37. 7,445 shares of the company's stock were exchanged, compared to its average volume of 67,151. The company has a market capitalization of $369.81 million, a P/E ratio of 10.31 and a beta of 0.99. VersaBank has a 12 month low of $8.51 and a 12 month high of $18.38. The business's 50-day simple moving average is $10.37 and its two-hundred day simple moving average is $13.10.

VersaBank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, April 4th. This is an increase from VersaBank's previous quarterly dividend of $0.02. VersaBank's dividend payout ratio (DPR) is 6.38%.

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.