VersaBank (NASDAQ:VBNK) Sees Large Increase in Short Interest

VersaBank (NASDAQ:VBNK - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 30,200 shares, an increase of 97.4% from the April 30th total of 15,300 shares. Based on an average daily volume of 26,500 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the shares of the company are short sold.

VersaBank Stock Up 2.2 %

VersaBank stock traded up $0.21 during mid-day trading on Wednesday, reaching $9.84. The company had a trading volume of 24,124 shares, compared to its average volume of 23,535. The company has a 50 day moving average of $10.02 and a 200-day moving average of $10.16. The firm has a market cap of $255.45 million, a price-to-earnings ratio of 7.75 and a beta of 0.78. VersaBank has a 52 week low of $6.95 and a 52 week high of $12.19.

VersaBank (NASDAQ:VBNK - Get Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. VersaBank had a net margin of 17.59% and a return on equity of 12.14%. The firm had revenue of $21.35 million during the quarter, compared to the consensus estimate of $22.05 million. On average, analysts predict that VersaBank will post 1.45 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were given a $0.0184 dividend. This represents a $0.07 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, April 4th. VersaBank's payout ratio is presently 5.51%.

Institutional Investors Weigh In On VersaBank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VBNK. Orchard Capital Management LLC grew its holdings in VersaBank by 0.3% during the fourth quarter. Orchard Capital Management LLC now owns 330,372 shares of the company's stock valued at $3,617,000 after purchasing an additional 1,000 shares during the period. Acadian Asset Management LLC increased its holdings in shares of VersaBank by 24.5% in the third quarter. Acadian Asset Management LLC now owns 41,005 shares of the company's stock valued at $320,000 after purchasing an additional 8,071 shares during the last quarter. Cox Capital Mgt LLC increased its holdings in shares of VersaBank by 5.3% in the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company's stock valued at $2,074,000 after purchasing an additional 9,802 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of VersaBank by 9.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company's stock valued at $3,819,000 after purchasing an additional 29,982 shares during the last quarter. Finally, Cumberland Partners Ltd acquired a new position in shares of VersaBank in the first quarter valued at about $472,000. Institutional investors and hedge funds own 56.86% of the company's stock.

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.