Keefe, Bruyette & Woods Issues Positive Forecast for VersaBank (TSE:VBNK) Stock Price

VersaBank (TSE:VBNK) had its target price hoisted by equities researchers at Keefe, Bruyette & Woods from C$22.00 to C$28.00 in a report issued on Wednesday,BayStreet.CA reports. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 13.04% from the stock’s current price.

VersaBank Stock Up 1.4 %

VersaBank stock traded up C$0.35 during midday trading on Wednesday, reaching C$24.77. The stock had a trading volume of 16,420 shares, compared to its average volume of 15,256. The firm’s 50-day moving average price is C$21.32 and its 200 day moving average price is C$17.63. VersaBank has a 12 month low of C$10.84 and a 12 month high of C$25.75. The firm has a market capitalization of C$643.03 million, a PE ratio of 14.07 and a beta of 1.07.

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.