Curi RMB Capital LLC Buys 190,341 Shares of VersaBank (NASDAQ:VBNK)

Curi RMB Capital LLC boosted its holdings in shares of VersaBank (NASDAQ:VBNK - Free Report) by 42.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 636,663 shares of the company's stock after purchasing an additional 190,341 shares during the period. Curi RMB Capital LLC owned about 1.96% of VersaBank worth $8,818,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. First Trust Advisors LP acquired a new stake in shares of VersaBank during the fourth quarter valued at about $217,000. Banc Funds Co. LLC acquired a new stake in shares of VersaBank during the 4th quarter worth approximately $416,000. Salzhauer Michael acquired a new stake in VersaBank in the fourth quarter worth $137,000. XTX Topco Ltd acquired a new position in VersaBank during the 4th quarter worth approximately $159,000. Finally, Kennedy Capital Management LLC acquired a new stake in VersaBank in the 4th quarter valued at $5,235,000. Institutional investors and hedge funds own 56.86% of the company's stock.

Analysts Set New Price Targets

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

VersaBank Stock Performance

NASDAQ VBNK traded up $0.22 on Thursday, hitting $11.35. The stock had a trading volume of 53,537 shares, compared to its average volume of 65,130. The company has a market capitalization of $369.09 million, a price-to-earnings ratio of 10.32 and a beta of 1.01. VersaBank has a 52-week low of $8.51 and a 52-week high of $18.38. The firm has a 50-day moving average of $10.75 and a 200-day moving average of $13.44.

VersaBank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from VersaBank's previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.88%. VersaBank's dividend payout ratio is 6.38%.

VersaBank 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.