VersaBank (NASDAQ:VBNK) Given Average Rating of "Hold" by Analysts

Key Points

• VersaBank (NASDAQ:VBNK) has received an average recommendation of "Hold" from analysts, with one selling, two holding, and one buying the stock.
• The company's recent quarterly earnings showed a profit of $0.22 EPS, exceeding estimates, though revenue was below expectations at $22.81 million.
• A quarterly dividend of $0.025 per share has been announced, with a payment date set for October 31st, reflecting an annualized yield of 0.8%.

VersaBank (NASDAQ:VBNK - Get Free Report) has earned an average recommendation of "Hold" from the four ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.2667.

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of VersaBank in a research report on Saturday, September 27th. Raymond James Financial reiterated an "outperform" rating and set a $13.00 price objective (down previously from $15.00) on shares of VersaBank in a research note on Thursday, June 5th. Zacks Research cut VersaBank from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Finally, Wall Street Zen upgraded VersaBank from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th.

VersaBank Price Performance

Shares of NASDAQ VBNK traded up $0.13 during trading hours on Friday, reaching $12.38. The stock had a trading volume of 38,527 shares, compared to its average volume of 79,632. The business's fifty day moving average is $11.55 and its two-hundred day moving average is $11.16. The company has a market cap of $398.24 million, a price-to-earnings ratio of 18.21 and a beta of 0.98. VersaBank has a twelve month low of $8.51 and a twelve month high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. VersaBank had a return on equity of 7.47% and a net margin of 9.56%.The firm had revenue of $22.81 million during the quarter, compared to analyst estimates of $24.01 million. Sell-side analysts forecast that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 10th. VersaBank's dividend payout ratio (DPR) is 10.29%.

Institutional Investors Weigh In On VersaBank

A number of hedge funds have recently added to or reduced their stakes in the business. Pembroke Management LTD grew its stake in VersaBank by 1.4% in the first quarter. Pembroke Management LTD now owns 337,345 shares of the company's stock valued at $3,495,000 after acquiring an additional 4,581 shares during the period. Canton Hathaway LLC purchased a new position in shares of VersaBank during the first quarter valued at approximately $51,000. First Trust Advisors LP boosted its position in shares of VersaBank by 33.0% during the second quarter. First Trust Advisors LP now owns 20,753 shares of the company's stock valued at $237,000 after buying an additional 5,144 shares during the last quarter. Salzhauer Michael boosted its position in shares of VersaBank by 68.4% during the second quarter. Salzhauer Michael now owns 16,843 shares of the company's stock valued at $192,000 after buying an additional 6,843 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of VersaBank during the first quarter valued at approximately $112,000. 56.86% of the stock is currently owned by institutional investors.

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.

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