VersaBank (NASDAQ:VBNK) Lowered to “Neutral” Rating by Roth Mkm

VersaBank (NASDAQ:VBNK) was downgraded by stock analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports. They presently have a $10.40 price target on the stock, down from their prior price target of $22.00. Roth Mkm’s target price suggests a potential downside of 0.29% from the stock’s current price.

Separately, Raymond James reiterated an “outperform” rating and issued a $17.00 price target (up from $15.00) on shares of VersaBank in a research report on Friday, November 8th.

VersaBank Price Performance

VBNK opened at $10.43 on Thursday. The firm has a market cap of $339.17 million, a P/E ratio of 9.48 and a beta of 0.91. VersaBank has a 1-year low of $9.48 and a 1-year high of $18.38. The company has a 50 day simple moving average of $13.39 and a two-hundred day simple moving average of $14.21.

VersaBank (NASDAQ:VBNK) last posted its quarterly earnings results on Monday, December 9th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. VersaBank had a net margin of 13.52% and a return on equity of 11.20%. Equities analysts anticipate that VersaBank will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new position in VersaBank during the 3rd quarter worth about $32,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of VersaBank in the 3rd quarter valued at about $137,000. Salzhauer Michael bought a new stake in shares of VersaBank in the 4th quarter valued at about $137,000. XTX Topco Ltd bought a new stake in shares of VersaBank in the 4th quarter valued at about $159,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of VersaBank in the 3rd quarter valued at about $211,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Company 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.