VersaBank (NASDAQ:VBNK - Get Free Report)'s stock had its "outperform" rating restated by analysts at Raymond James in a report released on Friday,Benzinga reports. They currently have a $17.00 price target on the stock, up from their prior price target of $15.00. Raymond James' price target would suggest a potential upside of 5.72% from the company's current price.
Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods initiated coverage on shares of VersaBank in a research report on Tuesday, August 27th. They set an "outperform" rating and a $22.00 price objective for the company. Roth Capital raised VersaBank to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Roth Mkm started coverage on VersaBank in a research note on Friday, September 27th. They issued a "buy" rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $19.00.
Read Our Latest Analysis on VBNK
VBNK traded up $0.21 during midday trading on Friday, hitting $16.08. 14,741 shares of the company were exchanged, compared to its average volume of 28,784. The firm's 50 day moving average price is $13.97 and its 200-day moving average price is $11.90. VersaBank has a 1-year low of $7.36 and a 1-year high of $16.27. The firm has a market capitalization of $417.60 million, a P/E ratio of 12.37 and a beta of 0.76.
VersaBank (NASDAQ:VBNK - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.08). The company had revenue of $19.72 million during the quarter, compared to the consensus estimate of $21.83 million. VersaBank had a net margin of 16.24% and a return on equity of 11.85%. On average, sell-side analysts predict that VersaBank will post 1.21 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. ELCO Management Co. LLC raised its position in shares of VersaBank by 4.1% during the second 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 during the period. Mendon Capital Advisors Corp raised its holdings in VersaBank by 6.1% during the second quarter. Mendon Capital Advisors Corp now owns 84,056 shares of the company's stock worth $904,000 after buying an additional 4,817 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Pembroke Management LTD grew its holdings in shares of VersaBank by 45.2% during the third quarter. Pembroke Management LTD now owns 50,864 shares of the company's stock valued at $675,000 after buying an additional 15,834 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of VersaBank by 52.4% during the first quarter. Acadian Asset Management LLC now owns 66,004 shares of the company's stock worth $689,000 after acquiring an additional 22,699 shares in the last quarter. Institutional investors and hedge funds own 56.86% of the company's stock.
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.
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