VersaBank (NASDAQ:VBNK) Now Covered by Roth Mkm

Equities researchers at Roth Mkm began coverage on shares of VersaBank (NASDAQ:VBNK) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Roth Mkm’s target price would indicate a potential upside of 38.14% from the company’s current price.

Separately, Keefe, Bruyette & Woods initiated coverage on VersaBank in a research note on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price objective for the company. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $16.67.

VersaBank Price Performance

VersaBank stock opened at $13.03 on Friday. The stock has a fifty day moving average price of $12.43 and a two-hundred day moving average price of $11.05. VersaBank has a 52-week low of $7.24 and a 52-week high of $14.22. The firm has a market capitalization of $338.26 million, a P/E ratio of 9.87 and a beta of 0.79.

Institutional Trading of VersaBank

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mendon Capital Advisors Corp increased its position in VersaBank by 6.1% in the second quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company’s stock worth $904,000 after purchasing an additional 4,817 shares during the period. ELCO Management Co. LLC increased its position in VersaBank by 4.1% in the second quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock worth $892,000 after purchasing an additional 3,234 shares during the period. Dimensional Fund Advisors LP increased its position in VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock worth $540,000 after purchasing an additional 15,462 shares during the period. Acadian Asset Management LLC increased its position in VersaBank by 52.2% in the second quarter. Acadian Asset Management LLC now owns 100,466 shares of the company’s stock worth $1,067,000 after purchasing an additional 34,462 shares during the period. Finally, Pembroke Management LTD acquired a new stake in VersaBank in the second quarter worth about $377,000. 56.86% of the stock is currently owned by institutional investors and hedge funds.

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.