VersaBank (NASDAQ:VBNK) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. cut its stake in VersaBank (NASDAQ:VBNK - Free Report) by 58.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,400 shares of the company's stock after selling 119,447 shares during the period. Hillsdale Investment Management Inc. owned 0.26% of VersaBank worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Barclays PLC acquired a new position in shares of VersaBank in the third quarter valued at about $32,000. Salzhauer Michael acquired a new position in VersaBank in the 4th quarter worth approximately $137,000. Mark Sheptoff Financial Planning LLC purchased a new position in VersaBank during the 3rd quarter worth approximately $137,000. K2 Principal Fund L.P. acquired a new stake in VersaBank during the 3rd quarter valued at approximately $211,000. Finally, Round Rock Advisors LLC purchased a new stake in shares of VersaBank in the 4th quarter valued at $273,000. Hedge funds and other institutional investors own 56.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Roth Mkm cut shares of VersaBank from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $22.00 to $10.40 in a report 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 VersaBank in a research note on Thursday, March 6th.

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VersaBank Stock Performance

NASDAQ VBNK traded down $0.20 during mid-day trading on Thursday, reaching $10.02. 51,149 shares of the stock were exchanged, compared to its average volume of 59,876. The company has a market capitalization of $325.84 million, a P/E ratio of 9.11 and a beta of 0.93. The business's 50 day moving average is $12.37 and its 200-day moving average is $13.94. VersaBank has a 1 year low of $9.48 and a 1 year high of $18.38.

VersaBank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, April 4th. This is a positive change from VersaBank's previous quarterly dividend of $0.02. VersaBank's payout ratio is currently 6.38%.

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.