403,463 Shares in VersaBank (NASDAQ:VBNK) Purchased by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC bought a new stake in VersaBank (NASDAQ:VBNK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 403,463 shares of the company’s stock, valued at approximately $5,588,000. VersaBank comprises approximately 1.3% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 29th biggest position.

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

VersaBank Price Performance

Shares of VBNK opened at $10.22 on Thursday. VersaBank has a 12 month low of $9.48 and a 12 month high of $18.38. The stock’s 50-day moving average is $12.37 and its two-hundred day moving average is $13.94. The stock has a market cap of $332.34 million, a PE ratio of 9.29 and a beta of 0.93.

VersaBank Increases Dividend

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

Wall Street Analyst Weigh In

VBNK has been the topic of a number of research analyst reports. Roth Capital set a $10.40 target price on VersaBank in a report on Thursday, March 6th. Raymond James reaffirmed an “outperform” rating on shares of VersaBank in a research note on Thursday, March 6th. Finally, Roth Mkm downgraded shares of VersaBank from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $10.40 in a research report on Thursday, March 6th.

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.