Added to YB: 2024-12-10
Pitch date: 2024-12-10
VBNK [bullish]
VersaBank
-14.92%
current return
Author Info
@blondesnmoney (aka cluseau) shares the stocks they are buying on Twitter and their newsletter. Sign up for the newsletter.
Company Info
VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products.
Market Cap
$661.0M
Pitch Price
$15.82
Price Target
N/A
Dividend
N/A
Sector
Banks
Category
growth
VBNK Prepares for U.S. Expansion: Higher NIM and ROE Could Drive Stock Re-Rating
VBNK: Added position. Q4 miss due to US RPP delay. Adj EPS $0.38 CAD. $525M cash for CMHC & US RPP rollout. CMHC loans to $600M by 2024, 100% gov-backed. US RPP to boost ROE via syndication, targeting 20-25% ROE vs 13-14% in Canada. Trading at 12x Canadian run-rate earnings, US growth not priced in.
Read full article (3 min)