Wellington Management Group LLP Takes $5.89 Million Position in VersaBank (NASDAQ:VBNK)

Wellington Management Group LLP purchased a new position in shares of VersaBank (NASDAQ:VBNK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 425,000 shares of the company's stock, valued at approximately $5,886,000. Wellington Management Group LLP owned about 1.31% of VersaBank at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Barclays PLC purchased a new position in VersaBank in the third quarter worth about $32,000. Mark Sheptoff Financial Planning LLC boosted its position in shares of VersaBank by 55.3% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company's stock valued at $222,000 after buying an additional 5,700 shares during the last quarter. Salzhauer Michael bought a new stake in VersaBank in the 4th quarter worth about $137,000. Round Rock Advisors LLC purchased a new position in VersaBank in the 4th quarter worth about $273,000. Finally, JPMorgan Chase & Co. grew its stake in shares of VersaBank by 519.9% in the fourth quarter. JPMorgan Chase & Co. now owns 36,427 shares of the company's stock worth $505,000 after acquiring an additional 30,551 shares during the period. 56.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on VBNK. Roth Mkm downgraded shares of VersaBank from a "buy" rating to a "neutral" rating and cut their target price for the stock from $22.00 to $10.40 in a research report on Thursday, March 6th. Raymond James restated an "outperform" rating on shares of VersaBank in a research note on Thursday, March 6th. Finally, Roth Capital set a $10.40 price objective on shares of VersaBank in a research note on Thursday, March 6th.

VersaBank Stock Down 0.5 %

VBNK traded down $0.05 during midday trading on Wednesday, reaching $9.67. The company had a trading volume of 2,313 shares, compared to its average volume of 63,149. VersaBank has a 1 year low of $8.51 and a 1 year high of $18.38. The company has a market cap of $314.46 million, a P/E ratio of 8.83 and a beta of 1.01. The business has a 50-day moving average of $11.10 and a two-hundred day moving average of $13.54.

VersaBank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.03%. This is an increase from VersaBank's previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, April 4th. VersaBank's payout ratio is presently 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.