VersaBank (TSE:VBNK) Given New C$22.00 Price Target at Keefe, Bruyette & Woods

VersaBank (TSE:VBNK) had its price objective dropped by equities researchers 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’ target price indicates a potential upside of 48.55% from the stock’s previous close.

VersaBank Trading Down 0.9 %

TSE VBNK traded down C$0.14 during trading hours on Thursday, reaching C$14.81. 91,524 shares of the company traded hands, compared to its average volume of 34,619. The company has a 50 day moving average of C$19.21 and a two-hundred day moving average of C$19.90. VersaBank has a 12 month low of C$12.94 and a 12 month high of C$25.75. The stock has a market capitalization of C$479.26 million, a PE ratio of 9.63 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.