Acadian Asset Management LLC Grows Stock Holdings in VersaBank (NASDAQ:VBNK)

Acadian Asset Management LLC grew its stake in shares of VersaBank (NASDAQ:VBNK) by 52.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 100,466 shares of the company’s stock after buying an additional 34,462 shares during the period. Acadian Asset Management LLC’s holdings in VersaBank were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Orchard Capital Management LLC boosted its stake in VersaBank by 0.3% in the 4th quarter. Orchard Capital Management LLC now owns 330,372 shares of the company’s stock worth $3,617,000 after purchasing an additional 1,000 shares during the period. Cox Capital Mgt LLC lifted its stake in VersaBank by 5.3% in the 1st quarter. Cox Capital Mgt LLC now owns 195,649 shares of the company’s stock worth $2,074,000 after purchasing an additional 9,802 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in 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 period. Pembroke Management LTD bought a new position in VersaBank in the 2nd quarter valued at $377,000. Finally, Cumberland Partners Ltd bought a new position in shares of VersaBank in the first quarter worth $472,000. 56.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods assumed coverage on VersaBank in a research note on Tuesday, August 27th. They set an “outperform” rating and a $22.00 price objective for the company.

VersaBank Trading Down 0.4 %

VBNK stock opened at $13.20 on Tuesday. VersaBank has a 1-year low of $7.24 and a 1-year high of $14.22. The stock has a market cap of $342.59 million, a price-to-earnings ratio of 10.00 and a beta of 0.79. The company’s 50 day moving average is $12.09 and its 200 day moving average is $10.92.

VersaBank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $0.018 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, October 4th. VersaBank’s dividend payout ratio (DPR) is currently 5.30%.

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.