Short Interest in VersaBank (NASDAQ:VBNK) Drops By 39.0%

VersaBank (NASDAQ:VBNK - Get Free Report) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 48,200 shares, a decrease of 39.0% from the January 15th total of 79,000 shares. Based on an average trading volume of 111,400 shares, the short-interest ratio is currently 0.4 days. Approximately 0.3% of the company's stock are short sold.

VersaBank Price Performance

VBNK traded down $0.02 during trading on Monday, hitting $13.66. The company had a trading volume of 39,441 shares, compared to its average volume of 75,289. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38. The business has a 50-day moving average of $13.85 and a 200-day moving average of $14.12. The company has a market cap of $444.11 million, a PE ratio of 12.42 and a beta of 0.91.

VersaBank (NASDAQ:VBNK - Get Free Report) last released its earnings results on Monday, December 9th. The company reported $0.28 earnings per share for the quarter, beating 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%. Research analysts forecast that VersaBank will post 1.46 earnings per share for the current year.

VersaBank Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were given a dividend of $0.0177 per share. The ex-dividend date was Friday, January 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.52%. VersaBank's dividend payout ratio is currently 5.45%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On VersaBank

Several institutional investors have recently modified their holdings of the company. Pembroke Management LTD grew its position in VersaBank by 45.2% in the 3rd quarter. Pembroke Management LTD now owns 50,864 shares of the company's stock valued at $675,000 after buying an additional 15,834 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in VersaBank in the 3rd quarter valued at about $137,000. K2 Principal Fund L.P. bought a new position in VersaBank in the 3rd quarter valued at about $211,000. Barclays PLC bought a new position in VersaBank in the 3rd quarter valued at about $32,000. Finally, Round Rock Advisors LLC purchased a new stake in VersaBank during the fourth quarter valued at about $273,000. Institutional investors own 56.86% of the company's stock.

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.