VersaBank (NASDAQ:VBNK) Short Interest Down 60.5% in April

VersaBank (NASDAQ:VBNK) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 12,800 shares, a decrease of 60.5% from the March 31st total of 32,400 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 30,200 shares, the days-to-cover ratio is presently 0.4 days.

VersaBank Stock Up 0.7 %

NASDAQ VBNK opened at $9.98 on Friday. The business has a 50 day moving average price of $10.63 and a two-hundred day moving average price of $9.81. VersaBank has a fifty-two week low of $6.36 and a fifty-two week high of $12.19. The stock has a market cap of $259.08 million, a PE ratio of 7.86 and a beta of 0.77.

VersaBank (NASDAQ:VBNK) last announced its earnings results on Wednesday, March 6th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. VersaBank had a return on equity of 12.14% and a net margin of 17.59%. The company had revenue of $21.35 million for the quarter, compared to analyst estimates of $22.05 million. Sell-side analysts anticipate that VersaBank will post 1.45 EPS for the current fiscal year.

VersaBank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a $0.0184 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 4th. VersaBank’s payout ratio is 3.15%.

Hedge Funds Weigh In On VersaBank

A number of institutional investors have recently made changes to their positions in VBNK. Acadian Asset Management LLC raised its position in shares of VersaBank by 24.5% in the 3rd quarter. Acadian Asset Management LLC now owns 41,005 shares of the company’s stock valued at $320,000 after purchasing an additional 8,071 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of VersaBank by 9.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after acquiring an additional 29,982 shares in the last quarter. Orchard Capital Management LLC raised its position in shares of VersaBank by 0.3% during the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after acquiring an additional 1,000 shares in the last quarter. Mendon Capital Advisors Corp acquired a new stake in shares of VersaBank during the 4th quarter valued at approximately $9,136,000. Finally, Wellington Management Group LLP raised its position in shares of VersaBank by 287.0% during the 4th quarter. Wellington Management Group LLP now owns 124,283 shares of the company’s stock valued at $1,357,000 after acquiring an additional 92,166 shares in the last quarter. 56.86% of the stock is owned by institutional investors and hedge funds.

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.