Curi RMB Capital LLC Sells 67,228 Shares of VersaBank (NASDAQ:VBNK)

Curi RMB Capital LLC cut its stake in shares of VersaBank (NASDAQ:VBNK - Free Report) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,322 shares of the company's stock after selling 67,228 shares during the quarter. Curi RMB Capital LLC owned approximately 1.72% of VersaBank worth $5,927,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VBNK. ELCO Management Co. LLC lifted its holdings in shares of VersaBank by 4.1% during the second quarter. ELCO Management Co. LLC now owns 82,942 shares of the company's stock valued at $892,000 after purchasing an additional 3,234 shares during the last quarter. Mendon Capital Advisors Corp raised its holdings in VersaBank by 6.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company's stock worth $904,000 after buying an additional 4,817 shares during the period. Dimensional Fund Advisors LP lifted its stake in VersaBank by 44.7% during the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company's stock valued at $540,000 after buying an additional 15,462 shares in the last quarter. Pembroke Management LTD boosted its holdings in shares of VersaBank by 45.2% in the third quarter. Pembroke Management LTD now owns 50,864 shares of the company's stock worth $675,000 after buying an additional 15,834 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of VersaBank by 52.4% in the first quarter. Acadian Asset Management LLC now owns 66,004 shares of the company's stock worth $689,000 after acquiring an additional 22,699 shares in the last quarter. 56.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VBNK. Keefe, Bruyette & Woods started coverage on shares of VersaBank in a research note on Tuesday, August 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Roth Capital raised VersaBank to a "strong-buy" rating in a research report on Friday, September 27th. Roth Mkm initiated coverage on VersaBank in a research report on Friday, September 27th. They set a "buy" rating and a $18.00 price target on the stock. Finally, Raymond James reaffirmed an "outperform" rating and set a $17.00 target price (up previously from $15.00) on shares of VersaBank in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $19.00.

VersaBank Price Performance

VBNK traded up $0.26 during midday trading on Friday, hitting $16.52. 11,150 shares of the company's stock traded hands, compared to its average volume of 28,643. The company has a market cap of $428.96 million, a PE ratio of 12.71 and a beta of 0.76. VersaBank has a one year low of $7.52 and a one year high of $17.06. The stock's fifty day simple moving average is $14.29 and its 200-day simple moving average is $12.13.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.08). VersaBank had a return on equity of 11.85% and a net margin of 16.24%. The firm had revenue of $19.72 million during the quarter, compared to analyst estimates of $21.83 million. On average, research analysts expect that VersaBank will post 1.21 EPS for the current year.

VersaBank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $0.018 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, October 4th. VersaBank's payout ratio is presently 5.38%.

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.