VersaBank (NASDAQ:VBNK) Stock Rating Upgraded by Roth Capital

VersaBank (NASDAQ:VBNK) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Several other analysts also recently weighed in on VBNK. Roth Mkm began coverage on VersaBank in a research report on Friday. They set a “buy” rating and a $18.00 price objective for the company. Keefe, Bruyette & Woods began coverage on VersaBank in a research report on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price objective for the company. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, VersaBank currently has a consensus rating of “Buy” and a consensus price target of $16.67.

VersaBank Stock Down 2.1 %

Shares of VBNK stock opened at $13.03 on Friday. VersaBank has a twelve month low of $7.24 and a twelve month high of $14.22. The company has a market cap of $338.26 million, a P/E ratio of 9.87 and a beta of 0.79. The business has a fifty day simple moving average of $12.43 and a 200 day simple moving average of $11.05.

Hedge Funds Weigh In On VersaBank

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mendon Capital Advisors Corp increased its holdings in VersaBank by 6.1% in the 2nd quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company’s stock worth $904,000 after purchasing an additional 4,817 shares in the last quarter. ELCO Management Co. LLC increased its holdings in VersaBank by 4.1% in the 2nd quarter. ELCO Management Co. LLC now owns 82,942 shares of the company’s stock worth $892,000 after purchasing an additional 3,234 shares in the last quarter. Dimensional Fund Advisors LP increased 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 valued at $540,000 after buying an additional 15,462 shares during the period. Acadian Asset Management LLC increased its stake in shares of VersaBank by 52.2% in the second quarter. Acadian Asset Management LLC now owns 100,466 shares of the company’s stock valued at $1,067,000 after buying an additional 34,462 shares during the period. Finally, Pembroke Management LTD acquired a new stake in shares of VersaBank in the second quarter valued at about $377,000. Institutional investors and hedge funds own 56.86% of the company’s stock.

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.