VersaBank (NASDAQ:VBNK) Short Interest Up 31.2% in January

VersaBank (NASDAQ:VBNK - Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 79,000 shares, a growth of 31.2% from the December 31st total of 60,200 shares. Based on an average daily trading volume, of 99,600 shares, the short-interest ratio is currently 0.8 days. Currently, 0.5% of the company's stock are sold short.

VersaBank Stock Up 4.7 %

Shares of NASDAQ:VBNK traded up $0.65 during mid-day trading on Tuesday, reaching $14.35. 172,602 shares of the stock were exchanged, compared to its average volume of 87,047. The stock's 50 day simple moving average is $14.63 and its 200-day simple moving average is $13.98. VersaBank has a one year low of $9.48 and a one year high of $18.38. The company has a market cap of $466.52 million, a P/E ratio of 13.05 and a beta of 0.91.

VersaBank (NASDAQ:VBNK - Get Free Report) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. Analysts anticipate that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a dividend of $0.0177 per share. The ex-dividend date was Friday, January 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.49%. VersaBank's dividend payout ratio is 6.36%.

Institutional Trading of VersaBank

Institutional investors and hedge funds have recently bought and sold shares of the stock. TCW Group Inc. bought a new position in shares of VersaBank in the fourth quarter valued at $4,155,000. Pembroke Management LTD lifted its stake in VersaBank by 554.2% in the 4th quarter. Pembroke Management LTD now owns 332,764 shares of the company's stock valued at $4,609,000 after purchasing an additional 281,900 shares during the last quarter. Round Rock Advisors LLC bought a new position in VersaBank during the fourth quarter worth about $273,000. K2 Principal Fund L.P. bought a new stake in VersaBank in the third quarter valued at approximately $211,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of VersaBank by 44.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company's stock worth $540,000 after acquiring an additional 15,462 shares during the last quarter. Institutional investors own 56.86% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James reiterated an "outperform" rating and issued a $17.00 price target (up previously from $15.00) on shares of VersaBank in a report on Friday, November 8th.

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.