Stifel Financial Corp Acquires Shares of 81,925 VersaBank (NASDAQ:VBNK)

Stifel Financial Corp acquired a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. TCW Group Inc. acquired a new stake in shares of VersaBank in the 4th quarter valued at approximately $4,155,000. Raymond James Financial Inc. acquired a new stake in VersaBank in the fourth quarter valued at $1,442,000. Intact Investment Management Inc. bought a new position in shares of VersaBank in the 4th quarter valued at about $1,223,000. Russell Investments Group Ltd. acquired a new position in shares of VersaBank during the 4th quarter worth about $307,000. Finally, Barclays PLC bought a new stake in shares of VersaBank in the 3rd quarter valued at about $32,000. 56.86% of the stock is owned by institutional investors and hedge funds.

VersaBank Stock Up 2.3%

NASDAQ VBNK traded up $0.26 on Tuesday, hitting $11.45. The company's stock had a trading volume of 31,930 shares, compared to its average volume of 67,147. The company's 50-day moving average is $10.35 and its 200 day moving average is $13.11. The firm has a market cap of $372.34 million, a PE ratio of 10.41 and a beta of 0.99. VersaBank has a 1-year low of $8.51 and a 1-year high of $18.38.

VersaBank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from VersaBank's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, April 4th. VersaBank's dividend payout ratio (DPR) is 6.38%.

Analysts Set New Price Targets

A number of research firms recently weighed in on VBNK. Roth Capital set a $10.40 price target on VersaBank in a research note on Thursday, March 6th. Roth Mkm downgraded shares of 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. Finally, Raymond James reiterated an "outperform" rating on shares of VersaBank in a research 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.