Hood River Capital Management LLC Makes New $849,000 Investment in VersaBank (NASDAQ:VBNK)

Hood River Capital Management LLC acquired a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 61,267 shares of the company's stock, valued at approximately $849,000. Hood River Capital Management LLC owned about 0.19% of VersaBank at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VBNK. Alliancebernstein L.P. lifted its stake in VersaBank by 73.2% during the fourth quarter. Alliancebernstein L.P. now owns 2,708,715 shares of the company's stock worth $37,516,000 after purchasing an additional 1,144,620 shares during the last quarter. Wellington Management Group LLP bought a new stake in VersaBank in the fourth quarter valued at $5,886,000. Pacific Ridge Capital Partners LLC bought a new stake in VersaBank in the fourth quarter valued at $5,588,000. Kennedy Capital Management LLC bought a new stake in VersaBank in the fourth quarter valued at $5,235,000. Finally, Mendon Capital Advisors Corp lifted its stake in VersaBank by 65.6% in the fourth quarter. Mendon Capital Advisors Corp now owns 887,253 shares of the company's stock valued at $12,288,000 after buying an additional 351,511 shares during the last quarter. 56.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VBNK shares. Roth Capital set a $10.40 target price on VersaBank in a research note on Thursday, March 6th. Roth Mkm lowered VersaBank from a "buy" rating to a "neutral" rating and lowered their price target for the company from $22.00 to $10.40 in a report on Thursday, March 6th. Finally, Raymond James reissued an "outperform" rating on shares of VersaBank in a report on Thursday, March 6th.

VersaBank Trading Up 1.9 %

NASDAQ:VBNK traded up $0.21 during mid-day trading on Monday, reaching $11.04. 91,062 shares of the stock were exchanged, compared to its average volume of 66,212. The business has a fifty day moving average price of $10.65 and a 200 day moving average price of $13.40. The firm has a market capitalization of $359.01 million, a PE ratio of 10.04 and a beta of 1.01. VersaBank has a 1-year low of $8.51 and a 1-year high of $18.38.

VersaBank Increases Dividend

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