VersaBank (NASDAQ:VBNK) Short Interest Up 121.2% in October

VersaBank (NASDAQ:VBNK - Get Free Report) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 30,300 shares, an increase of 121.2% from the September 30th total of 13,700 shares. Based on an average daily trading volume, of 39,500 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the company's stock are sold short.

VersaBank Price Performance

VersaBank stock traded down $0.19 during mid-day trading on Friday, hitting $14.71. 26,173 shares of the company's stock traded hands, compared to its average volume of 28,574. The firm has a 50 day simple moving average of $13.50 and a two-hundred day simple moving average of $11.57. VersaBank has a fifty-two week low of $7.24 and a fifty-two week high of $15.78. The stock has a market cap of $382.02 million, a price-to-earnings ratio of 11.32 and a beta of 0.79.

VersaBank (NASDAQ:VBNK - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $21.83 million. On average, research analysts anticipate that VersaBank will post 1.21 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.018 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, October 4th. VersaBank's dividend payout ratio is currently 5.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods assumed coverage on VersaBank in a report on Tuesday, August 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Roth Mkm initiated coverage on VersaBank in a report on Friday, September 27th. They issued a "buy" rating and a $18.00 price objective for the company. Finally, Roth Capital raised VersaBank to a "strong-buy" rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $16.67.

Institutional Investors Weigh In On VersaBank

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pembroke Management LTD bought a new position in shares of VersaBank in the second quarter worth $377,000. Cumberland Partners Ltd bought a new position in shares of VersaBank in the first quarter worth $472,000. Dimensional Fund Advisors LP increased its position in shares of VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company's stock worth $540,000 after purchasing an additional 15,462 shares during the period. 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 purchasing an additional 22,699 shares during the period. Finally, ELCO Management Co. LLC increased its position in shares of VersaBank by 4.1% in the second quarter. ELCO Management Co. LLC now owns 82,942 shares of the company's stock worth $892,000 after purchasing an additional 3,234 shares during the period. Institutional investors and hedge funds own 56.86% of the company's stock.

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.