Branchless VersaBank is a Schedule I chartered bank and obtains its deposits and the majority of its loans and leases electronically, typically through non-branch financial product distribution channels. The stock appears to be in an uptrend now, trading above its 20, 50 and 200-day moving averages. Meanwhile, insiders are betting the stock is heading higher. Over the past 90 days, four insiders have spent $650,961 buying shares in the public market. The 87,120 common shares were acquired at an average price of $7.47. The biggest buyer was chief executive David R. Taylor.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.