VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK - Get Free Report) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 21,600 shares, a decrease of 28.5% from the May 15th total of 30,200 shares. Based on an average daily volume of 19,400 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the company's stock are short sold.

Hedge Funds Weigh In On VersaBank

A number of hedge funds have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its holdings in VersaBank by 17.5% in the first quarter. Hillsdale Investment Management Inc. now owns 408,794 shares of the company's stock worth $4,321,000 after buying an additional 60,881 shares during the last quarter. Acadian Asset Management LLC increased its holdings in 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 buying an additional 22,699 shares during the last quarter. Cumberland Partners Ltd acquired a new position in VersaBank in the first quarter worth approximately $472,000. Cox Capital Mgt LLC increased its holdings in VersaBank by 5.3% in the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company's stock worth $2,074,000 after buying an additional 9,802 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in VersaBank by 287.0% in the fourth quarter. Wellington Management Group LLP now owns 124,283 shares of the company's stock worth $1,357,000 after buying an additional 92,166 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company's stock.

VersaBank Stock Up 4.4 %

Shares of VBNK traded up $0.46 during trading hours on Friday, reaching $10.89. The company's stock had a trading volume of 13,289 shares, compared to its average volume of 23,172. The company has a 50 day moving average of $9.91 and a two-hundred day moving average of $10.33. VersaBank has a 1-year low of $7.20 and a 1-year high of $12.19. The firm has a market cap of $282.70 million, a price-to-earnings ratio of 8.08 and a beta of 0.75.

VersaBank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a $0.018 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.07 dividend on an annualized basis and a yield of 0.66%. VersaBank's dividend payout ratio is currently 5.30%.

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.