VersaBank (NASDAQ:VBNK) Sees Large Increase in Short Interest

VersaBank (NASDAQ:VBNK - Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 180,300 shares, a growth of 48.5% from the September 15th total of 121,400 shares. Currently, 0.9% of the company's stock are sold short. Based on an average trading volume of 76,900 shares, the short-interest ratio is presently 2.3 days. Based on an average trading volume of 76,900 shares, the short-interest ratio is presently 2.3 days. Currently, 0.9% of the company's stock are sold short.

VersaBank Stock Down 0.3%

Shares of VBNK opened at $11.77 on Thursday. The company has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $11.36. The company has a market capitalization of $378.64 million, a PE ratio of 17.31 and a beta of 0.98. VersaBank has a 52-week low of $8.51 and a 52-week high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $22.81 million for the quarter, compared to analysts' expectations of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. On average, research analysts anticipate that VersaBank will post 1.46 EPS for the current year.

VersaBank Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on VBNK shares. Weiss Ratings reissued a "hold (c)" rating on shares of VersaBank in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of VersaBank from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Finally, Zacks Research cut shares of VersaBank from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, VersaBank currently has a consensus rating of "Hold" and a consensus price target of $11.27.

Institutional Trading of VersaBank

Hedge funds have recently made changes to their positions in the company. Trexquant Investment LP acquired a new stake in shares of VersaBank during the first quarter worth approximately $112,000. Connors Investor Services Inc. bought a new stake in shares of VersaBank during the second quarter valued at about $125,000. Salzhauer Michael raised its stake 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 purchasing an additional 6,843 shares in the last quarter. First Trust Advisors LP raised its stake 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 purchasing an additional 5,144 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of VersaBank during the second quarter valued at about $293,000. Hedge funds and other institutional investors own 56.86% of the company's stock.

About VersaBank

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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