403,463 Shares in VersaBank (NASDAQ:VBNK) Purchased by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC acquired a new position in VersaBank (NASDAQ:VBNK - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 403,463 shares of the company's stock, valued at approximately $5,588,000. VersaBank makes up 1.3% of Pacific Ridge Capital Partners LLC's holdings, making the stock its 29th biggest holding. Pacific Ridge Capital Partners LLC owned 1.24% of VersaBank at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in VersaBank during the 3rd quarter worth $32,000. Mark Sheptoff Financial Planning LLC raised its stake in VersaBank by 55.3% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company's stock valued at $222,000 after buying an additional 5,700 shares in the last quarter. Salzhauer Michael acquired a new position in shares of VersaBank in the 4th quarter worth approximately $137,000. K2 Principal Fund L.P. acquired a new stake in shares of VersaBank in the 3rd quarter worth about $211,000. Finally, Round Rock Advisors LLC bought a new stake in VersaBank in the 4th quarter valued at about $273,000. 56.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Remove Ads

VersaBank Trading Up 2.2 %

VBNK stock traded up $0.22 on Monday, hitting $10.12. 38,918 shares of the company's stock traded hands, compared to its average volume of 94,720. The stock has a market cap of $329.12 million, a price-to-earnings ratio of 9.20 and a beta of 0.93. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38. The stock has a fifty day moving average of $12.24 and a 200-day moving average of $13.90.

VersaBank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from VersaBank's previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.99%. VersaBank's dividend payout ratio (DPR) is currently 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.