VersaBank (NASDAQ:VBNK) Rating Increased to Hold at Wall Street Zen

Key Points

• VersaBank has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, with one analyst giving it a Buy rating and two others assigning a Hold rating.
• Raymond James Financial has set a price target of $13.00 on VersaBank shares, reduced from the previous target of $15.00.
• The company reported $0.22 earnings per share for its last quarter, exceeding analyst expectations, although its revenue fell short of estimates.

VersaBank (NASDAQ:VBNK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Raymond James Financial restated an "outperform" rating and issued a $13.00 price target (down previously from $15.00) on shares of VersaBank in a research note on Thursday, June 5th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.27.

VersaBank Trading Up 1.2%

VBNK stock opened at $12.10 on Friday. The firm has a 50 day simple moving average of $11.24 and a 200-day simple moving average of $11.05. The company has a market capitalization of $389.26 million, a P/E ratio of 17.79 and a beta of 0.96. VersaBank has a twelve month low of $8.51 and a twelve month high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $22.81 million during the quarter, compared to analyst estimates of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.69%. On average, research analysts predict that VersaBank will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its stake in VersaBank by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 2,840,626 shares of the company's stock worth $32,383,000 after buying an additional 29,613 shares during the last quarter. Mendon Capital Advisors Corp grew its stake in VersaBank by 4.0% during the 2nd quarter. Mendon Capital Advisors Corp now owns 1,052,650 shares of the company's stock worth $12,000,000 after buying an additional 40,127 shares during the last quarter. Rhino Investment Partners Inc grew its stake in VersaBank by 5.4% during the 1st quarter. Rhino Investment Partners Inc now owns 943,064 shares of the company's stock worth $9,770,000 after buying an additional 48,547 shares during the last quarter. Curi Capital LLC grew its stake in VersaBank by 5.0% during the 2nd quarter. Curi Capital LLC now owns 800,000 shares of the company's stock worth $9,120,000 after buying an additional 38,337 shares during the last quarter. Finally, Curi RMB Capital LLC grew its stake in VersaBank by 19.6% during the 1st quarter. Curi RMB Capital LLC now owns 761,663 shares of the company's stock worth $7,891,000 after buying an additional 125,000 shares during the last quarter. 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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