VersaBank price target lowered to C$22 from C$27 at Keefe Bruyette

Keefe Bruyette analyst Timothy Switzer lowered the firm’s price target on VersaBank (VBNK) to C$22 from C$27 and keeps an Outperform rating on the shares. Keefe believes the long-term outlook and earnings power of the bank model is unchanged, the analyst tells investors in a research note.