Barclays PLC Takes Position in VersaBank (NASDAQ:VBNK)

Barclays PLC bought a new position in shares of VersaBank (NASDAQ:VBNK) in the third quarter, Holdings Channel reports. The institutional investor bought 2,420 shares of the company’s stock, valued at approximately $32,000.

Several other hedge funds have also recently modified their holdings of VBNK. Mark Sheptoff Financial Planning LLC acquired a new stake in VersaBank in the 3rd quarter worth about $137,000. K2 Principal Fund L.P. purchased a new position in shares of VersaBank in the third quarter valued at approximately $211,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 acquiring an additional 15,462 shares during the last quarter. Pembroke Management LTD increased its position in shares of VersaBank by 45.2% during the third quarter. Pembroke Management LTD now owns 50,864 shares of the company’s stock worth $675,000 after purchasing an additional 15,834 shares in the last quarter. Finally, Mendon Capital Advisors Corp raised its stake in VersaBank by 6.1% in the 2nd quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company’s stock valued at $904,000 after purchasing an additional 4,817 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

VersaBank Price Performance

VBNK opened at $13.27 on Friday. The firm has a market capitalization of $431.41 million, a price-to-earnings ratio of 12.06 and a beta of 0.91. The company’s 50 day simple moving average is $14.99 and its two-hundred day simple moving average is $13.88. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings data on Monday, December 9th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. VersaBank had a return on equity of 11.20% and a net margin of 13.52%. On average, equities analysts anticipate that VersaBank will post 1.46 earnings per share for the current fiscal year.

VersaBank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a dividend of $0.0177 per share. The ex-dividend date is Friday, January 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.53%. VersaBank’s dividend payout ratio is presently 6.36%.

Wall Street Analyst Weigh In

Separately, Raymond James reaffirmed an “outperform” rating and set a $17.00 target price (up previously from $15.00) on shares of VersaBank in a research note on Friday, November 8th.

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.