Pamalican Asset Management Ltd Acquires Shares of 232,767 VersaBank (NASDAQ:VBNK)

Pamalican Asset Management Ltd purchased a new position in VersaBank (NASDAQ:VBNK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 232,767 shares of the company's stock, valued at approximately $3,224,000. VersaBank comprises about 1.4% of Pamalican Asset Management Ltd's portfolio, making the stock its 26th biggest holding. Pamalican Asset Management Ltd owned approximately 0.72% of VersaBank at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VBNK. Barclays PLC purchased a new stake in shares of VersaBank during the third quarter worth about $32,000. Salzhauer Michael purchased a new position in shares of VersaBank during the 4th quarter worth $137,000. K2 Principal Fund L.P. acquired a new stake in shares of VersaBank during the third quarter worth $211,000. Mark Sheptoff Financial Planning LLC increased its stake in VersaBank by 55.3% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company's stock valued at $222,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Round Rock Advisors LLC acquired a new position in VersaBank in the fourth quarter valued at $273,000. Institutional investors and hedge funds own 56.86% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Roth Capital set a $10.40 target price on shares of VersaBank in a research report on Thursday, March 6th. Raymond James reaffirmed an "outperform" rating on shares of VersaBank in a research note on Thursday, March 6th. Finally, Roth Mkm cut shares of VersaBank from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $22.00 to $10.40 in a research report on Thursday, March 6th.

VersaBank Trading Up 6.4 %

NASDAQ:VBNK traded up $0.57 during trading hours on Wednesday, hitting $9.46. 56,815 shares of the stock traded hands, compared to its average volume of 62,967. The firm has a market cap of $307.63 million, a price-to-earnings ratio of 8.56 and a beta of 1.01. VersaBank has a fifty-two week low of $8.51 and a fifty-two week high of $18.38. The firm has a 50 day moving average price of $11.62 and a 200 day moving average price of $13.70.

VersaBank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from VersaBank's previous quarterly dividend of $0.02. VersaBank's dividend payout ratio (DPR) is 6.38%.

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.