TCW Group Inc. Buys Shares of 300,000 VersaBank (NASDAQ:VBNK)

TCW Group Inc. purchased a new position in VersaBank (NASDAQ:VBNK) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 300,000 shares of the company’s stock, valued at approximately $4,155,000.

Several other large investors have also recently made changes to their positions in VBNK. Barclays PLC purchased a new position in VersaBank in the 3rd quarter valued at $32,000. Salzhauer Michael purchased a new stake in shares of VersaBank during the fourth quarter worth $137,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of VersaBank in the third quarter valued at about $137,000. K2 Principal Fund L.P. purchased a new position in shares of VersaBank in the third quarter worth about $211,000. Finally, Round Rock Advisors LLC acquired a new position in VersaBank during the fourth quarter worth about $273,000. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

VersaBank Stock Performance

NASDAQ VBNK opened at $12.69 on Monday. The stock’s fifty day moving average is $13.60 and its two-hundred day moving average is $14.19. The firm has a market capitalization of $412.55 million, a P/E ratio of 11.54 and a beta of 0.91. VersaBank has a fifty-two week low of $9.48 and a fifty-two week high of $18.38.

VersaBank (NASDAQ:VBNK) last announced its quarterly earnings data on Monday, December 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. As a group, sell-side analysts forecast that VersaBank will post 1.46 EPS for the current year.

VersaBank Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a $0.0177 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, January 10th. VersaBank’s dividend payout ratio (DPR) is presently 6.36%.

Analyst Ratings Changes

Separately, Raymond James reiterated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of VersaBank in a report on Friday, November 8th.

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.