VersaBank price target raised to $13 from $10 at Roth Capital

Roth Capital raised the firm’s price target on VersaBank (VBNK) to $13 from $10 and keeps a Neutral rating on the shares. The company reported mixed Q4 results with net revenue ahead on 20% Y/Y loan growth, while EPS was below consensus on higher non interest expense, the analyst tells investors in a research note. Roth adds however that VersaBank net interest margin expanded 4bps from Q3 on lower deposit costs.