VersaBank price target lowered to $13 from $15 at Raymond James

Raymond James lowered the firm’s price target on VersaBank (VBNK) to $13 from $15 and keeps an Outperform rating on the shares. The firm’s positive thesis remains intact following the in-line Q2 results, the analyst tells investors in a research note. Raymond James attributes the share decline on Wednesday to VersaBank’s soft outlook, but says it could prove conservative.