Cibc World Market Inc. Sells 130,575 Shares of VersaBank (NASDAQ:VBNK)

Cibc World Market Inc. lessened its stake in VersaBank (NASDAQ:VBNK - Free Report) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,290,859 shares of the company's stock after selling 130,575 shares during the quarter. Cibc World Market Inc. owned about 3.97% of VersaBank worth $17,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pembroke Management LTD grew its position in shares of VersaBank by 45.2% in the 3rd quarter. Pembroke Management LTD now owns 50,864 shares of the company's stock valued at $675,000 after purchasing an additional 15,834 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company's stock valued at $540,000 after purchasing an additional 15,462 shares in the last quarter. K2 Principal Fund L.P. acquired a new position in shares of VersaBank during the third quarter worth about $211,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of VersaBank during the third quarter worth about $137,000. Finally, Barclays PLC acquired a new stake in VersaBank in the 3rd quarter valued at approximately $32,000. Institutional investors own 56.86% of the company's stock.

VersaBank Price Performance

Shares of VBNK traded up $0.61 during trading hours on Tuesday, hitting $14.31. 101,673 shares of the stock were exchanged, compared to its average volume of 84,389. VersaBank has a fifty-two week low of $9.48 and a fifty-two week high of $18.38. The business has a 50-day moving average of $14.63 and a 200-day moving average of $13.98. The firm has a market capitalization of $465.22 million, a P/E ratio of 13.02 and a beta of 0.91.

VersaBank (NASDAQ:VBNK - Get Free Report) last released its quarterly earnings data on Monday, December 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. As a group, analysts forecast that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were issued a dividend of $0.0177 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Friday, January 10th. VersaBank's dividend payout ratio (DPR) is presently 6.36%.

Analyst Upgrades and Downgrades

Separately, Raymond James restated an "outperform" rating and issued a $17.00 price objective (up previously from $15.00) on shares of VersaBank in a report on Friday, November 8th.

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.