VersaBank (NASDAQ:VBNK) Rating Lowered to Neutral at Roth Mkm

VersaBank (NASDAQ:VBNK - Get Free Report) was downgraded by stock analysts at Roth Mkm from a "buy" rating to a "neutral" rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $10.40 target price on the stock, down from their previous target price of $22.00. Roth Mkm's price objective points to a potential upside of 4.63% from the stock's previous close.

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

VersaBank Stock Performance

Shares of NASDAQ VBNK traded down $0.58 during trading hours on Thursday, hitting $9.94. 243,059 shares of the stock were exchanged, compared to its average volume of 58,179. The company's fifty day simple moving average is $13.27 and its two-hundred day simple moving average is $14.20. The company has a market cap of $323.24 million, a PE ratio of 9.04 and a beta of 0.93. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38.

VersaBank (NASDAQ:VBNK - Get Free Report) last posted its quarterly earnings results on Monday, December 9th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. As a group, sell-side analysts expect that VersaBank will post 1.46 EPS for the current fiscal year.

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Institutional Trading of VersaBank

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC acquired a new stake in VersaBank during the 3rd quarter worth approximately $32,000. Salzhauer Michael bought a new position in shares of VersaBank during the fourth quarter valued at $137,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of VersaBank in the third quarter worth $137,000. XTX Topco Ltd acquired a new stake in VersaBank in the fourth quarter valued at $159,000. Finally, First Trust Advisors LP bought a new position in VersaBank during the 4th quarter worth $217,000. 56.86% of the stock is currently owned by institutional investors.

About VersaBank

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.