Weiss Ratings Reaffirms Hold (C) Rating for VersaBank (NASDAQ:VBNK)

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for VersaBank (NASDAQ: VBNK), reflecting cautious sentiment from analysts, despite varying opinions from other firms.
• VersaBank's stock price reached $12.24 with a consensus price target of $11.27, showing a range of $8.51 to $18.38 over the past year.
• The bank reported a quarterly EPS of $0.22, exceeding analysts' expectations, although its revenue of $22.81 million fell short of consensus estimates.

VersaBank (NASDAQ:VBNK - Get Free Report)'s stock had its "hold (c)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

VBNK has been the topic of several other reports. Wall Street Zen raised shares of VersaBank from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Zacks Research cut shares of VersaBank from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, VersaBank has a consensus rating of "Hold" and a consensus price target of $11.27.

VersaBank Stock Performance

Shares of NASDAQ:VBNK traded down $0.27 during trading hours on Wednesday, reaching $12.24. The stock had a trading volume of 95,692 shares, compared to its average volume of 62,523. VersaBank has a 1 year low of $8.51 and a 1 year high of $18.38. The firm's 50 day moving average is $11.61 and its 200-day moving average is $11.22. The stock has a market capitalization of $393.76 million, a price-to-earnings ratio of 14.22 and a beta of 0.98.

VersaBank (NASDAQ:VBNK - Get Free Report) last announced 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 company had revenue of $22.81 million for the quarter, compared to the consensus estimate of $24.01 million. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. Analysts forecast that VersaBank will post 1.46 EPS for the current year.

Institutional Trading of VersaBank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Canton Hathaway LLC acquired a new stake in shares of VersaBank in the first quarter valued at about $51,000. Trexquant Investment LP acquired a new stake in shares of VersaBank in the first quarter valued at about $112,000. Connors Investor Services Inc. acquired a new stake in shares of VersaBank in the second quarter valued at about $125,000. Salzhauer Michael lifted its stake in shares of VersaBank by 68.4% in 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 during the period. Finally, First Trust Advisors LP lifted its stake in shares of VersaBank by 33.0% in 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 during the period. Institutional investors and hedge funds own 56.86% of the company's stock.

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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