Short Interest in VersaBank (NASDAQ:VBNK) Decreases By 13.0%

VersaBank (NASDAQ:VBNK - Get Free Report) saw a large decline in short interest in May. As of May 15th, there was short interest totalling 101,400 shares, a decline of 13.0% from the April 30th total of 116,500 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 84,900 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on VBNK shares. Roth Capital set a $10.40 price objective on VersaBank in a research note on Thursday, March 6th. Raymond James reissued an "outperform" rating and issued a $13.00 price objective (down previously from $15.00) on shares of VersaBank in a research note on Thursday. Finally, Roth Mkm downgraded VersaBank from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $22.00 to $10.40 in a research note on Thursday, March 6th.

Hedge Funds Weigh In On VersaBank

Several large investors have recently made changes to their positions in the business. Salzhauer Michael acquired a new stake in VersaBank during the fourth quarter worth $137,000. Pembroke Management LTD grew its stake in shares of VersaBank by 554.2% in the 4th quarter. Pembroke Management LTD now owns 332,764 shares of the company's stock valued at $4,609,000 after purchasing an additional 281,900 shares during the period. TCW Group Inc. bought a new stake in shares of VersaBank in the 4th quarter valued at approximately $4,155,000. Raymond James Financial Inc. bought a new stake in shares of VersaBank in the 4th quarter valued at approximately $1,442,000. Finally, Intact Investment Management Inc. bought a new stake in shares of VersaBank in the 4th quarter valued at approximately $1,223,000. Institutional investors and hedge funds own 56.86% of the company's stock.

VersaBank Trading Down 3.8%

Shares of VersaBank stock traded down $0.41 on Thursday, reaching $10.40. 228,161 shares of the company were exchanged, compared to its average volume of 70,021. The firm has a market capitalization of $338.20 million, a price-to-earnings ratio of 9.45 and a beta of 0.99. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $18.38. The stock has a fifty day moving average price of $10.77 and a 200-day moving average price of $12.66.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.03). VersaBank had a net margin of 13.52% and a return on equity of 11.20%. The firm had revenue of $21.87 million during the quarter, compared to analysts' expectations of $20.77 million. On average, equities analysts anticipate that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 4th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.10 annualized dividend and a dividend yield of 0.96%. VersaBank's dividend payout ratio is presently 6.38%.

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.