Banc Funds Co. LLC Purchases Shares of 30,000 VersaBank (NASDAQ:VBNK)

Banc Funds Co. LLC acquired a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 30,000 shares of the company's stock, valued at approximately $416,000. Banc Funds Co. LLC owned approximately 0.09% of VersaBank at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VBNK. TCW Group Inc. acquired a new stake in shares of VersaBank during the 4th quarter valued at about $4,155,000. Raymond James Financial Inc. acquired a new stake in VersaBank in the 4th quarter valued at $1,442,000. Intact Investment Management Inc. bought a new stake in VersaBank in the fourth quarter valued at $1,223,000. Barclays PLC acquired a new position in VersaBank during the third quarter worth $32,000. Finally, Pembroke Management LTD boosted 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 in the last quarter. 56.86% of the stock is owned by institutional investors.

VersaBank Stock Performance

NASDAQ:VBNK traded up $0.20 on Tuesday, hitting $10.98. 31,579 shares of the stock were exchanged, compared to its average volume of 64,523. The stock has a market capitalization of $356.93 million, a price-to-earnings ratio of 9.92 and a beta of 1.01. VersaBank has a 52 week low of $8.51 and a 52 week high of $18.38. The company's 50-day moving average price is $10.85 and its 200 day moving average price is $13.47.

VersaBank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a dividend of $0.025 per share. The ex-dividend date is Friday, April 4th. This is a boost from VersaBank's previous quarterly dividend of $0.02. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.91%. VersaBank's payout ratio is 6.38%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Roth Capital set a $10.40 price target on shares of VersaBank in a report on Thursday, March 6th. Raymond James restated an "outperform" rating on shares of VersaBank in a report on Thursday, March 6th. Finally, Roth Mkm cut shares of VersaBank from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $22.00 to $10.40 in a research report on Thursday, March 6th.

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.