Compass Rose Asset Management LP Invests $720,000 in VersaBank $VBNK

Compass Rose Asset Management LP purchased a new stake in VersaBank (NASDAQ:VBNK) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,000 shares of the company’s stock, valued at approximately $720,000. VersaBank makes up approximately 0.1% of Compass Rose Asset Management LP’s portfolio, making the stock its 15th largest holding.

A number of other hedge funds have also bought and sold shares of VBNK. Alliancebernstein L.P. raised its stake in VersaBank by 2.7% in the 3rd quarter. Alliancebernstein L.P. now owns 2,915,984 shares of the company’s stock worth $35,604,000 after purchasing an additional 75,358 shares in the last quarter. Mendon Capital Advisors Corp grew its position in shares of VersaBank by 4.0% during the 2nd quarter. Mendon Capital Advisors Corp now owns 1,052,650 shares of the company’s stock worth $12,000,000 after purchasing an additional 40,127 shares in the last quarter. Curi Capital LLC increased its holdings in shares of VersaBank by 5.0% during the second quarter. Curi Capital LLC now owns 800,000 shares of the company’s stock worth $9,120,000 after purchasing an additional 38,337 shares during the period. Pembroke Management LTD increased its holdings in shares of VersaBank by 21.8% during the third quarter. Pembroke Management LTD now owns 523,185 shares of the company’s stock worth $6,388,000 after purchasing an additional 93,578 shares during the period. Finally, Kennedy Capital Management LLC raised its position in shares of VersaBank by 18.9% in the third quarter. Kennedy Capital Management LLC now owns 354,642 shares of the company’s stock valued at $4,330,000 after buying an additional 56,422 shares in the last quarter. 56.86% of the stock is owned by institutional investors.

VersaBank Trading Down 1.6%

Shares of NASDAQ:VBNK opened at $13.93 on Friday. The firm has a 50 day moving average of $15.75 and a 200-day moving average of $13.65. The stock has a market capitalization of $446.74 million, a PE ratio of 19.90 and a beta of 0.93. VersaBank has a 12 month low of $8.51 and a 12 month high of $17.47.

VersaBank (NASDAQ:VBNK) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $26.80 million during the quarter, compared to the consensus estimate of $26.92 million. VersaBank had a net margin of 10.03% and a return on equity of 7.70%. On average, research analysts predict that VersaBank will post 1.46 EPS for the current fiscal year.

VersaBank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, April 10th will be paid a dividend of $0.025 per share. The ex-dividend date is Friday, April 10th. This represents a $0.10 annualized dividend and a yield of 0.7%. VersaBank’s dividend payout ratio is presently 10.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VBNK. Zacks Research cut VersaBank from a “hold” rating to a “strong sell” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VersaBank in a report on Wednesday, January 21st. Finally, Roth Mkm upped their target price on VersaBank from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, VersaBank presently has a consensus rating of “Hold” and an average price target of $13.00.

VersaBank Profile

VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital institution, offering a range of deposit and lending solutions through its proprietary technology platform. Headquartered in London, Ontario, the bank has chosen to forego a traditional branch network in favor of online and digital distribution, enabling it to serve clients across Canada and the United States with efficiency and lower overhead.

The bank’s primary business activities include the origination and securitization of commercial loans, equipment financing, residential mortgages and construction loans.