VersaBank $VBNK Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its stake in VersaBank (NASDAQ:VBNK) by 17.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 219,393 shares of the company’s stock after purchasing an additional 32,070 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.68% of VersaBank worth $4,796,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. K2 Principal Fund L.P. purchased a new stake in VersaBank during the 2nd quarter valued at $239,000. BlackRock Inc. bought a new stake in VersaBank in the second quarter worth $274,000. Sei Investments Co. lifted its position in VersaBank by 100.0% in the first quarter. Sei Investments Co. now owns 36,578 shares of the company’s stock worth $518,000 after buying an additional 18,289 shares during the last quarter. Renaissance Technologies LLC boosted its stake in VersaBank by 29.7% during the first quarter. Renaissance Technologies LLC now owns 112,700 shares of the company’s stock worth $1,597,000 after buying an additional 25,800 shares during the period. Finally, Bank of America Corp DE purchased a new position in VersaBank during the second quarter worth $1,133,000. Institutional investors own 56.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VBNK shares. Raymond James Financial set a $20.00 price objective on shares of VersaBank in a research report on Thursday, September 3rd. Weiss Ratings upgraded shares of VersaBank from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Zacks Research cut shares of VersaBank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Roth Capital upped their price target on shares of VersaBank from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

VersaBank Stock Up 0.7%

Shares of VersaBank stock opened at $22.43 on Tuesday. The stock’s fifty day moving average is $21.49 and its two-hundred day moving average is $19.77. The company has a market capitalization of $728.53 million, a PE ratio of 21.02 and a beta of 1.04. VersaBank has a 52 week low of $11.25 and a 52 week high of $25.05.

VersaBank (NASDAQ:VBNK) last released its earnings results on Thursday, September 3rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.07). VersaBank had a return on equity of 8.66% and a net margin of 9.92%. The business had revenue of $27.67 million for the quarter, compared to the consensus estimate of $28.76 million. As a group, research analysts anticipate that VersaBank will post 1.19 earnings per share for the current year.

VersaBank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be issued a C$0.03 dividend. The ex-dividend date is Friday, October 9th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.4%. VersaBank’s dividend payout ratio is presently 9.21%.

VersaBank Profile

VersaBank is a digital-first, Schedule I chartered bank headquartered in London, Ontario, Canada. The bank operates primarily through electronic channels rather than a traditional branch network and gathers deposits through financial intermediaries, including deposit brokers and other financial institutions.

The company provides commercial lending and deposit products to businesses, financial intermediaries and specialty finance companies. Its lending activities include point-of-sale financing, commercial real estate and other asset-backed loans, as well as financing for public-sector and municipal projects.