VersaBank (NASDAQ:VBNK) Upgraded at Zacks Research

Key Points

• Analyst upgrades: Zacks Research raised VersaBank from "strong sell" to "hold" and Weiss Ratings upgraded it from "hold (c+)" to "buy (b-)," leaving a consensus rating of Moderate Buy with a $13.00 price target.
• Stock metrics: Shares opened at $18.20, with a one‑year range of $10.10–$18.89, a market cap of $585.5M, a P/E of 26.0, and 50‑/200‑day moving averages of $15.64/$14.54.
• Recent results and outlook: VersaBank reported Q EPS of $0.27 (in line) and revenue of $26.8M (slightly below estimates), with ROE 7.7% and analysts projecting $1.27 EPS for the fiscal year.

VersaBank (NASDAQ:VBNK - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded shares of VersaBank from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

VersaBank Stock Performance

Shares of NASDAQ:VBNK opened at $18.20 on Monday. The business's fifty day moving average price is $15.64 and its two-hundred day moving average price is $14.54. VersaBank has a one year low of $10.10 and a one year high of $18.89. The stock has a market cap of $585.49 million, a PE ratio of 26.00 and a beta of 1.11.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $26.80 million during the quarter, compared to the consensus estimate of $26.92 million. VersaBank had a return on equity of 7.70% and a net margin of 10.03%. As a group, equities research analysts predict that VersaBank will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of VersaBank

Several institutional investors have recently added to or reduced their stakes in the business. Connors Investor Services Inc. grew its stake in VersaBank by 18.2% during the 3rd quarter. Connors Investor Services Inc. now owns 13,000 shares of the company's stock worth $159,000 after buying an additional 2,000 shares during the last quarter. Quadrature Capital Ltd bought a new stake in VersaBank in the fourth quarter valued at $201,000. Citadel Advisors LLC acquired a new position in shares of VersaBank during the third quarter valued at $198,000. Salzhauer Michael boosted its holdings 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 acquiring an additional 6,843 shares during the period. Finally, First Trust Advisors LP boosted its stake in VersaBank by 33.0% during the 2nd 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 during the period. Institutional investors own 56.86% of the company's stock.

About VersaBank

VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.

The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.

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