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VBNK

VersaBank

https://www.versabank.com

Industry

Banks - Regional

VersaBank, a schedule I chartered bank, provides various banking products and services in Canada. The company offers deposit products, such as guaranteed investment certificates, registered retirement savings plans, daily interest savings accounts, and tax-free savings accounts, as well as deposit insurance products. It also provides lending services, including point of sale financing that involves purchasing loan and lease receivables from finance companies operating in various industries; and commercial banking services comprising commercial real estate, public sector/infrastructure financing, condominium financing, and residential mortgages. The company was formerly known as Pacific & Western Bank of Canada and changed its name to VersaBank in May 2016. VersaBank was incorporated in 1979 and is headquartered in London, Canada.

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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%.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2024 | 8:22 pm

Roth MKM has initiated coverage on VersaBank with a Buy rating and set a price target of $18, indicating a positive outlook for the stock.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 11:40 am

VersaBank's Q3 2024 earnings report shows a miss on both EPS and sales estimates. The EPS of C$0.36 fell short of the C$0.46 estimate, and sales of C$26.996M slightly missed the C$27.012M estimate. This reflects a decrease in EPS from last year, despite a slight increase in sales.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 11:04 am

Keefe, Bruyette & Woods has initiated coverage on VersaBank with an Outperform rating and set a price target of $22.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 12:44 pm

Keefe, Bruyette & Woods has initiated coverage on VersaBank with an Outperform rating, indicating a positive outlook for the bank's stock.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 9:45 pm

VersaBank reported its Q2 2024 financial results with a GAAP EPS of C$0.45, down from C$0.48 year-over-year. The bank's sales were C$28.501 million, missing the estimate of C$30.100 million.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 11:05 am

VersaBank (NASDAQ:VBNK) reported Q1 earnings of $0.36 per share, surpassing the $0.35 estimate, marking a 44% increase from last year. However, their sales of $21.35M fell short of the $22.43M estimate, despite being an 11.49% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 12:39 pm

VersaBank (NASDAQ:VBNK) reported Q1 earnings of $0.35 per share, meeting analyst estimates, and a 40% increase from last year. However, sales of $21.20M missed estimates by 5.49%, despite being a 10.69% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 12:06 pm

Numerous companies are scheduled to report their earnings on March 6, 2024, covering a wide range of industries from technology to retail. Notable mentions include JD.com with expected earnings of $0.63 per share on a revenue of $42.16 billion, and Abercrombie & Fitch forecasting $2.83 per share on $1.43 billion revenue. Other companies like Foot Locker, Thor Industries, and Campbell Soup are also set to report their earnings, alongside firms expected to report losses such as WAVE Life Sciences and EVgo.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 10:00 am

VersaBank (NASDAQ:VBNK) is scheduled to release its quarterly earnings report on March 6, 2024, with analysts expecting an EPS of $0.35. The company's past performance shows a pattern of beating EPS estimates, leading to positive stock price movements. Shares are currently trading at $11.71, reflecting a 57.72% increase over the last 52 weeks. Investors are advised to watch for the company's guidance for the next quarter, as it often significantly impacts stock prices.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 3:04 pm

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