VersaBank (NASDAQ:VBNK) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in VersaBank (NASDAQ:VBNK) by 287.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,283 shares of the company’s stock after purchasing an additional 92,166 shares during the quarter. Wellington Management Group LLP’s holdings in VersaBank were worth $1,357,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Mendon Capital Advisors Corp acquired a new position in VersaBank in the fourth quarter valued at approximately $9,136,000. Orchard Capital Management LLC raised its position in VersaBank by 0.3% in the fourth quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock valued at $3,617,000 after purchasing an additional 1,000 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of VersaBank by 9.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 347,913 shares of the company’s stock valued at $3,819,000 after purchasing an additional 29,982 shares during the last quarter. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Trading Down 2.5 %

NASDAQ VBNK opened at $10.49 on Tuesday. The stock has a market cap of $272.32 million, a PE ratio of 7.95 and a beta of 0.77. VersaBank has a twelve month low of $7.24 and a twelve month high of $12.19. The stock has a fifty day simple moving average of $10.07 and a 200-day simple moving average of $10.58.

VersaBank (NASDAQ:VBNK) last announced its earnings results on Wednesday, June 5th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $21.01 million during the quarter, compared to analyst estimates of $21.54 million. VersaBank had a net margin of 17.02% and a return on equity of 12.26%. Research analysts predict that VersaBank will post 1.4 EPS for the current year.

VersaBank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, July 5th. VersaBank’s payout ratio is 5.30%.

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.