VersaBank (NASDAQ:VBNK) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its holdings in shares of VersaBank (NASDAQ:VBNK) by 3.0% in the third quarter, Holdings Channel.com reports. The firm owned 121,150 shares of the company’s stock after selling 3,689 shares during the period. National Bank of Canada FI’s holdings in VersaBank were worth $1,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of VBNK. Mark Sheptoff Financial Planning LLC acquired a new position in VersaBank during the 3rd quarter worth $137,000. Pembroke Management LTD acquired a new position in VersaBank in the second quarter worth about $377,000. Dimensional Fund Advisors LP increased its holdings in VersaBank by 44.7% in the second quarter. Dimensional Fund Advisors LP now owns 50,038 shares of the company’s stock valued at $540,000 after buying an additional 15,462 shares during the last quarter. ELCO Management Co. LLC raised its stake in VersaBank by 4.1% during the second quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock valued at $892,000 after buying an additional 3,234 shares in the last quarter. Finally, Mendon Capital Advisors Corp lifted its holdings in VersaBank by 6.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company’s stock worth $904,000 after buying an additional 4,817 shares during the last quarter. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VBNK shares. Keefe, Bruyette & Woods initiated coverage on shares of VersaBank in a report on Tuesday, August 27th. They issued an “outperform” rating and a $22.00 price objective for the company. Roth Capital upgraded shares of VersaBank to a “strong-buy” rating in a research report on Friday, September 27th. Raymond James reaffirmed an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of VersaBank in a research report on Friday, November 8th. Finally, Roth Mkm started coverage on shares of VersaBank in a report on Friday, September 27th. They issued a “buy” rating and a $18.00 target price on the stock. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, VersaBank presently has an average rating of “Buy” and a consensus target price of $19.00.

VersaBank Price Performance

VBNK stock opened at $15.39 on Friday. The firm has a market cap of $400.14 million, a PE ratio of 13.99 and a beta of 0.83. VersaBank has a 12 month low of $8.90 and a 12 month high of $18.38. The firm has a 50 day simple moving average of $15.92 and a 200 day simple moving average of $13.16.

VersaBank Cuts Dividend

The company 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 of this dividend is Friday, January 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.46%. VersaBank’s dividend payout ratio is currently 6.36%.

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.