TCW Group Inc. purchased a new stake in shares of VersaBank (NASDAQ:VBNK – Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 300,000 shares of the company’s stock, valued at approximately $4,155,000. TCW Group Inc. owned about 0.92% of VersaBank as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Barclays PLC purchased a new stake in VersaBank in the third quarter valued at approximately $32,000. Salzhauer Michael acquired a new stake in VersaBank during the 4th quarter valued at approximately $137,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of VersaBank in the 3rd quarter valued at $137,000. K2 Principal Fund L.P. acquired a new stake in shares of VersaBank in the third quarter worth $211,000. Finally, Round Rock Advisors LLC purchased a new position in shares of VersaBank during the fourth quarter worth $273,000. 56.86% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Raymond James reaffirmed an “outperform” rating and issued a $17.00 price target (up from $15.00) on shares of VersaBank in a report on Friday, November 8th.
VersaBank Trading Down 3.7 %
Shares of NASDAQ:VBNK opened at $12.69 on Monday. VersaBank has a 12-month low of $9.48 and a 12-month high of $18.38. The business has a 50 day moving average of $13.60 and a two-hundred day moving average of $14.19. The company has a market capitalization of $412.55 million, a PE ratio of 11.54 and a beta of 0.91.
VersaBank (NASDAQ:VBNK – Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. Equities research analysts predict that VersaBank will post 1.46 earnings per share for the current fiscal year.
VersaBank Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were paid a $0.0177 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.56%. VersaBank’s dividend payout ratio is presently 6.36%.
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.
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