Roth Capital downgrades VersaBank to 'neutral' on slowing loan growth
ReutersMar 6, 2025 4:47 PM
Roth Capital Partners downgrades U.S.-listed shares of Canadian lender VersaBank VBNK.TO to "neutral" from "buy"
Brokerage cites continued decelerating loan growth and slower-than-expected U.S. receivable purchase program (RPP) launch behind the downgrade
Program provides funding to finance companies who lend money to consumers and small businesses
Cuts VBNK PT to $10.40 from $22, slight downside to stock's last close
Roth Capital says while net interest margin - a key measure of banking profitability - may have bottomed, any recovery may lag as higher-margin US RPP is slow to materialize
One of two brokerages rates the stock "buy" or higher and the other "hold"; median PT is $11.20 - LSEG data
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