Rosenthal Henry Capital Advisors Inc. Sells 68,800 Shares of VersaBank $VBNK

Rosenthal Henry Capital Advisors Inc. cut its stake in shares of VersaBank (NASDAQ:VBNK) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,426 shares of the company’s stock after selling 68,800 shares during the quarter. VersaBank accounts for about 1.8% of Rosenthal Henry Capital Advisors Inc.’s holdings, making the stock its 27th biggest holding. Rosenthal Henry Capital Advisors Inc.’s holdings in VersaBank were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VBNK. Alliancebernstein L.P. increased its holdings in shares of 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 buying an additional 75,358 shares during the last quarter. Mendon Capital Advisors Corp lifted its holdings in shares of VersaBank by 2.6% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,057,693 shares of the company’s stock worth $15,392,000 after acquiring an additional 26,559 shares during the last quarter. Curi Capital LLC grew its position in VersaBank by 5.0% in the second quarter. Curi Capital LLC now owns 800,000 shares of the company’s stock worth $9,120,000 after acquiring an additional 38,337 shares in the last quarter. Pembroke Management LTD grew its position in VersaBank by 40.7% in the fourth quarter. Pembroke Management LTD now owns 736,222 shares of the company’s stock worth $11,029,000 after acquiring an additional 213,037 shares in the last quarter. Finally, TCW Group Inc. increased its stake in VersaBank by 8.2% in the fourth quarter. TCW Group Inc. now owns 674,277 shares of the company’s stock valued at $10,101,000 after acquiring an additional 50,900 shares during the last quarter. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Stock Up 2.2%

VersaBank stock opened at $23.72 on Thursday. VersaBank has a twelve month low of $10.10 and a twelve month high of $25.05. The firm has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $16.54. The company has a market capitalization of $763.78 million, a PE ratio of 34.38 and a beta of 1.04.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $28.17 million for the quarter, compared to analyst estimates of $26.86 million. VersaBank had a return on equity of 8.32% and a net margin of 9.34%. As a group, equities analysts expect that VersaBank will post 1.3 earnings per share for the current fiscal year.

VersaBank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a $0.025 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.4%. VersaBank’s dividend payout ratio (DPR) is currently 10.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VBNK shares. Zacks Research upgraded VersaBank from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings downgraded VersaBank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. Finally, Roth Mkm raised VersaBank from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $25.00 in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.00.

VersaBank Company 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.