VersaBank (NASDAQ:VBNK) Short Interest Update

VersaBank (NASDAQ:VBNK) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 94,000 shares, an increase of 59.6% from the February 28th total of 58,900 shares. Based on an average trading volume of 103,700 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the company’s shares are sold short.

VersaBank Price Performance

Shares of NASDAQ VBNK opened at $9.90 on Friday. The company has a market capitalization of $321.94 million, a price-to-earnings ratio of 9.00 and a beta of 0.93. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38. The business has a 50-day moving average of $12.24 and a 200-day moving average of $13.90.

VersaBank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $0.025 dividend. This is an increase from VersaBank’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, April 4th. This represents a $0.10 annualized dividend and a yield of 1.01%. VersaBank’s dividend payout ratio (DPR) is 6.38%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VBNK. Mark Sheptoff Financial Planning LLC acquired a new position in VersaBank in the 3rd quarter worth $137,000. K2 Principal Fund L.P. acquired a new position in shares of VersaBank in the third quarter worth about $211,000. Barclays PLC acquired a new position in shares of VersaBank in the third quarter worth about $32,000. Round Rock Advisors LLC purchased a new position in VersaBank in the fourth quarter valued at about $273,000. Finally, Salzhauer Michael acquired a new stake in VersaBank during the 4th quarter valued at approximately $137,000. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

About VersaBank

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.