Keefe, Bruyette & Woods Lowers VersaBank (TSE:VBNK) Price Target to C$22.00

VersaBank (TSE:VBNK) had its price target lowered by research analysts at Keefe, Bruyette & Woods from C$27.00 to C$22.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 45.99% from the stock’s previous close.

VersaBank Price Performance

Shares of TSE:VBNK opened at C$15.07 on Thursday. VersaBank has a 1-year low of C$12.94 and a 1-year high of C$25.75. The business has a fifty day moving average price of C$19.13 and a 200-day moving average price of C$19.87. The company has a market capitalization of C$487.67 million, a PE ratio of 9.80 and a beta of 1.07.

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.