Stifel Financial Corp Invests $1.14 Million in VersaBank (NASDAQ:VBNK)
Stifel Financial Corp invested approximately $1.14 million in VersaBank (NASDAQ:VBNK) by acquiring 81,925 shares during the fourth quarter. This purchase represents about 0.25% of VersaBank's stock. Other institutional investors have also increased their stakes in the bank. Analysts have recently downgraded VersaBank's rating, with Roth Mkm lowering it from "buy" to "neutral" and setting a price target of $10.40. VersaBank's stock opened at $11.15, with a market cap of $362.59 million and a recent dividend increase to $0.025 per share.
Stifel Financial Corp purchased a new stake in shares of VersaBank (NASDAQ:VBNK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 81,925 shares of the company's stock, valued at approximately $1,135,000. Stifel Financial Corp owned about 0.25% of VersaBank at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Barclays PLC acquired a new stake in shares of VersaBank in the third quarter worth $32,000. Salzhauer Michael bought a new position in shares of VersaBank during the 4th quarter worth about $137,000. XTX Topco Ltd acquired a new position in shares of VersaBank in the fourth quarter valued at $159,000. First Trust Advisors LP acquired a new position in VersaBank in the fourth quarter worth about $217,000. Finally, Mark Sheptoff Financial Planning LLC grew its position in VersaBank by 55.3% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 16,000 shares of the company's stock valued at $222,000 after acquiring an additional 5,700 shares during the period. Institutional investors and hedge funds own 56.86% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Roth Mkm lowered shares of VersaBank from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $22.00 to $10.40 in a report on Thursday, March 6th. Roth Capital set a $10.40 price objective on VersaBank in a report on Thursday, March 6th. Finally, Raymond James restated an "outperform" rating on shares of VersaBank in a research report on Thursday, March 6th.
View Our Latest Analysis on VBNK
VersaBank Price Performance
Shares of VersaBank stock opened at $11.15 on Friday. VersaBank has a 1 year low of $8.51 and a 1 year high of $18.38. The business has a 50-day moving average of $10.35 and a two-hundred day moving average of $13.18. The company has a market capitalization of $362.59 million, a P/E ratio of 10.14 and a beta of 0.99.
VersaBank Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from VersaBank's previous quarterly dividend of $0.02. The ex-dividend date was Friday, April 4th. VersaBank's payout ratio is 6.38%.
VersaBank Company Profile
(Free Report)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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