Short Interest in VersaBank (NASDAQ:VBNK) Increases By 19.5%

VersaBank (NASDAQ:VBNKGet Free Report) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 15,300 shares, a growth of 19.5% from the April 15th total of 12,800 shares. Based on an average daily trading volume, of 28,000 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the shares of the company are sold short.

VersaBank Price Performance

Shares of VersaBank stock traded up $0.04 during trading on Wednesday, hitting $9.74. 2,182 shares of the company’s stock traded hands, compared to its average volume of 24,796. VersaBank has a 1 year low of $6.36 and a 1 year high of $12.19. The stock has a market capitalization of $252.85 million, a P/E ratio of 7.64 and a beta of 0.78. The business has a 50-day simple moving average of $10.22 and a 200-day simple moving average of $10.02.

VersaBank (NASDAQ:VBNKGet Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.36 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $22.05 million. On average, equities analysts predict that VersaBank will post 1.45 earnings per share for the current fiscal year.

VersaBank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were issued a $0.0184 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, April 4th. VersaBank’s dividend payout ratio is 5.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Orchard Capital Management LLC lifted its holdings in VersaBank by 0.3% in the fourth 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 during the period. Acadian Asset Management LLC lifted its holdings in VersaBank by 24.5% in the third quarter. Acadian Asset Management LLC now owns 41,005 shares of the company’s stock valued at $320,000 after acquiring an additional 8,071 shares during the period. Cox Capital Mgt LLC lifted its holdings in VersaBank by 5.3% in the first quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock valued at $2,074,000 after acquiring an additional 9,802 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in VersaBank by 9.4% in the fourth 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 during the period. Finally, Cumberland Partners Ltd bought a new position in shares of VersaBank in the first quarter worth about $472,000. Institutional investors own 56.86% of the company’s stock.

VersaBank Company Profile

(Get Free Report)

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.

Further Reading

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