VersaBank (NASDAQ:VBNK) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. decreased its holdings in VersaBank (NASDAQ:VBNK) by 54.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,824 shares of the company’s stock after selling 4,555 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in VersaBank were worth $52,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC purchased a new position in shares of VersaBank during the 3rd quarter valued at approximately $137,000. K2 Principal Fund L.P. acquired a new stake in VersaBank in the third quarter valued at $211,000. Barclays PLC bought a new position in VersaBank during the 3rd quarter valued at $32,000. Round Rock Advisors LLC acquired a new position in VersaBank during the 4th quarter worth $273,000. Finally, Salzhauer Michael bought a new stake in shares of VersaBank in the 4th quarter worth about $137,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Stock Down 2.1 %

Shares of NASDAQ:VBNK opened at $10.11 on Friday. The firm has a fifty day moving average of $12.57 and a two-hundred day moving average of $13.99. VersaBank has a 12-month low of $9.48 and a 12-month high of $18.38. The firm has a market capitalization of $328.77 million, a P/E ratio of 9.19 and a beta of 0.93.

VersaBank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.99%. This is an increase from VersaBank’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, April 4th. VersaBank’s dividend payout ratio is presently 6.38%.

Wall Street Analyst Weigh In

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

VersaBank Profile

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.