VersaBank Secures TSX Approval for Share Buyback Program

Versabank ( (TSE:VBNK) ) has issued an announcement.

On April 28, 2025, VersaBank announced it received approval from the Toronto Stock Exchange to initiate a Normal Course Issuer Bid (NCIB) for its common shares. This move allows VersaBank to purchase and cancel up to 2,000,000 shares, representing approximately 8.99% of its public float, as part of its strategy to enhance shareholder value amidst a challenging banking environment. The bank’s recent performance has shown significant growth in profitability and efficiency, and the NCIB reflects management’s confidence in the bank’s undervalued share price and its prospects for continued strong growth.

Spark’s Take on TSE:VBNK Stock

According to Spark, TipRanks’ AI Analyst, TSE:VBNK is a Outperform.

Versabank’s strong financial health and strategic expansion in the US are significant positives, supported by robust revenue growth and profitability. Technical indicators show mixed signals, with near-term recovery potential but caution over momentum. Valuation metrics suggest a fair market price, while earnings call insights highlight both growth opportunities and cost challenges. These factors contribute to a solid stock score.

To see Spark’s full report on TSE:VBNK stock, click here.

More about Versabank

VersaBank is a North American bank that operates with a branchless, digital, business-to-business model, leveraging proprietary technology to serve underserved banking segments with reduced risk. It is federally chartered in both Canada and the US, and it benefits from significant operating leverage by obtaining most of its deposits and funding electronically through financial intermediary partners. VersaBank has expanded its Receivable Purchase Program to the US market and owns DRT Cyber Inc., a leader in cybersecurity services, and Digital Meteor Inc., which focuses on digital assets.

YTD Price Performance: -21.56%

Average Trading Volume: 104,527

Technical Sentiment Signal: Buy

Current Market Cap: $353.8M

Learn more about VBNK stock on TipRanks’ Stock Analysis page.