Mark Sheptoff Financial Planning LLC Purchases 5,700 Shares of VersaBank (NASDAQ:VBNK)

Mark Sheptoff Financial Planning LLC lifted its position in VersaBank (NASDAQ:VBNK) by 55.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,000 shares of the company’s stock after buying an additional 5,700 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in VersaBank were worth $222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Intact Investment Management Inc. bought a new stake in shares of VersaBank in the fourth quarter worth about $1,223,000. Raymond James Financial Inc. bought a new stake in VersaBank during the 4th quarter worth approximately $1,442,000. TCW Group Inc. acquired a new stake in VersaBank during the 4th quarter worth approximately $4,155,000. Pembroke Management LTD lifted its stake in VersaBank by 554.2% in the fourth quarter. Pembroke Management LTD now owns 332,764 shares of the company’s stock valued at $4,609,000 after buying an additional 281,900 shares in the last quarter. Finally, Salzhauer Michael acquired a new position in shares of VersaBank in the fourth quarter valued at approximately $137,000. 56.86% of the stock is currently owned by institutional investors.

VersaBank Trading Down 0.8 %

Shares of VBNK stock opened at $10.23 on Wednesday. The firm’s fifty day moving average price is $12.44 and its two-hundred day moving average price is $13.96. VersaBank has a 1 year low of $9.48 and a 1 year high of $18.38. The firm has a market capitalization of $332.67 million, a P/E ratio of 9.30 and a beta of 0.93.

VersaBank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $0.025 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.98%. This is an increase from VersaBank’s previous quarterly dividend of $0.02. VersaBank’s payout ratio is currently 6.38%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VBNK shares. Roth Mkm lowered shares of VersaBank from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $10.40 in a report on Thursday, March 6th. Roth Capital set a $10.40 price target on VersaBank in a report on Thursday, March 6th. Finally, Raymond James reaffirmed an “outperform” rating on shares of VersaBank in a research report on Thursday, March 6th.

VersaBank 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.