VersaBank To See Modest Expansion In Net Interest Margins: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Roth MKM analyst Craig Irwin initiated coverage on VersaBank (NASDAQ:VBNK) with a price target of $18, following its acquisition of Stearns Bank Holdings. The bank plans to expand its point-of-sale lending model in the U.S. and anticipates modest net interest margin expansion. VBNK shares closed at $13.03, down 2.03%.
September 27, 2024 | 8:22 pm
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VersaBank received a new price target of $18 from Roth MKM analyst Craig Irwin. The bank's expansion into the U.S. market and its point-of-sale lending model are expected to drive modest net interest margin growth.
The analyst's coverage initiation with a price target of $18 suggests a positive outlook. The bank's strategic expansion into the U.S. and its lending model are expected to enhance profitability, leading to modest NIM growth. This is likely to positively impact the stock price in the short term.
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