Pembroke Management LTD Buys 281,900 Shares of VersaBank (NASDAQ:VBNK)

Pembroke Management LTD grew its stake in VersaBank (NASDAQ:VBNK - Free Report) by 554.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 332,764 shares of the company's stock after buying an additional 281,900 shares during the period. Pembroke Management LTD owned approximately 1.02% of VersaBank worth $4,609,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VBNK. Barclays PLC acquired a new position in shares of VersaBank during the 3rd quarter worth about $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of VersaBank during the 3rd quarter worth about $137,000. Salzhauer Michael acquired a new position in shares of VersaBank during the 4th quarter worth about $137,000. K2 Principal Fund L.P. acquired a new position in shares of VersaBank during the 3rd quarter worth about $211,000. Finally, Round Rock Advisors LLC acquired a new position in shares of VersaBank during the 4th quarter worth about $273,000. Institutional investors and hedge funds own 56.86% of the company's stock.

VersaBank Trading Down 3.7 %

VBNK traded down $0.49 on Friday, hitting $12.69. 115,654 shares of the stock traded hands, compared to its average volume of 84,466. VersaBank has a 52 week low of $9.48 and a 52 week high of $18.38. The firm has a market capitalization of $412.55 million, a PE ratio of 11.54 and a beta of 0.91. The business has a fifty day moving average price of $13.65 and a two-hundred day moving average price of $14.14.

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

VersaBank Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors 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 annualized dividend and a yield of 0.56%. VersaBank's dividend payout ratio is 6.36%.

Analysts Set New Price Targets

Separately, Raymond James reissued an "outperform" rating and set a $17.00 price objective (up previously from $15.00) on shares of VersaBank in a research 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.