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Versabank
(TSX:VBNK)
Versabank (VBNK) vs. iShares MSCI Canada ETF (EWC)
Versabank Business Overview & Revenue Model
Versabank Earnings Call Summary
Versabank Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 299.85M | 294.40M | 108.03M | 82.39M | 65.36M | 54.19M |
| Gross Profit | 113.90M | 111.63M | 108.64M | 82.39M | 65.36M | 54.19M |
| EBITDA | 42.71M | 57.43M | 59.43M | 34.49M | 32.52M | 27.90M |
| Net Income | 28.77M | 39.75M | 42.16M | 22.66M | 22.38M | 19.41M |
Balance Sheet | ||||||
| Total Assets | 5.48B | 4.84B | 4.20B | 3.27B | 2.42B | 1.94B |
| Cash, Cash Equivalents and Short-Term Investments | 621.40M | 226.21M | 132.24M | 88.58M | 271.52M | 257.64M |
| Total Debt | 105.01M | 105.54M | 110.62M | 109.42M | 100.39M | 16.72M |
| Total Liabilities | 4.95B | 4.44B | 3.82B | 2.92B | 2.08B | 1.69B |
| Stockholders Equity | 528.14M | 399.20M | 377.16M | 350.68M | 332.11M | 255.29M |
Cash Flow | ||||||
| Free Cash Flow | 147.79M | 254.13M | 94.36M | -33.23M | -108.32M | 139.35M |
| Operating Cash Flow | 148.36M | 272.70M | 104.55M | 57.46M | -108.31M | 139.59M |
| Investing Cash Flow | -17.71M | -157.58M | -28.14M | -141.61M | -8.44M | 9.76M |
| Financing Cash Flow | 91.08M | -23.33M | 823.25M | -6.30M | 131.40M | -30.85M |
Versabank Technical Analysis
Versabank Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $530.12M | 17.38 | 6.07% | 0.59% | 4.19% | -46.14% | |
74 Outperform | $1.48B | 10.89 | 5.47% | 5.66% | -9.93% | ― | |
73 Outperform | C$850.65M | 11.48 | 11.84% | 7.65% | 12.10% | -18.24% | |
68 Neutral | C$526.75M | 10.44 | 9.72% | 8.26% | -11.04% | 0.44% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | C$430.92M | 11.34 | 8.90% | 8.60% | -6.64% | 4.43% | |
60 Neutral | C$527.14M | 13.90 | 5.52% | 10.52% | -9.00% | -35.22% |
Versabank Corporate Events
On October 27, 2025, VersaBank announced the branding of its proprietary Digital Deposit Receipts as VersaBank Real Bank Deposit Tokens™ (RBDTs™). These tokens offer a significant advantage over stablecoins by being issued by a federally licensed bank, allowing for legally permitted interest payments and deposit insurance. The branding marks a step towards the anticipated commercialization of these tokens, which aim to combine traditional banking safety with blockchain efficiency. This move positions VersaBank as a leader in integrating blockchain technology into mainstream financial applications, enhancing its industry standing and offering stakeholders a secure and efficient alternative to stablecoins.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
On October 6, 2025, VersaBank announced that its US subsidiary, VersaBank USA, has partnered with Thrive Financial Inc. to expand its Receivable Purchase Program (RPP) in the United States. This collaboration aims to leverage Thrive’s technology platform for point-of-sale financing in the home improvement sector, which is a key growth area for VersaBank’s RPP business. The partnership is expected to enhance VersaBank’s market presence and drive significant value for both companies, supporting VersaBank’s goal of reaching a US RPP portfolio target of $290 million.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
On September 18, 2025, VersaBank announced the implementation of new, internally developed artificial intelligence capabilities within its core banking technology. These advancements allow for real-time monitoring of its Receivable Purchase Program portfolio, enhancing its low-risk credit asset model. This development is expected to support VersaBank’s strategy to expand its market share in Canada and accelerate its presence in the US. The bank aims to introduce innovative financing options, leveraging these AI capabilities to maintain its position at the forefront of technological innovation in the banking industry.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
On September 16, 2025, VersaBank announced the refresh of its Digital Deposit Receipts (DDR) Tokenized Deposit Pilot Program in Canada and its integration with a US pilot program. This initiative aims to confirm the functionality and security of DDRs and demonstrate the bank’s capability to conduct secure cross-border transactions. The integration is expected to showcase VersaBank’s ability to offer high-speed, low-cost foreign exchange transactions, providing a competitive advantage over non-bank issued stablecoins. The pilot programs are anticipated to complete by the end of 2025, with a commercial launch planned soon after, subject to regulatory requirements.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank is a North American digital bank specializing in business-to-business banking and cybersecurity technology solutions, leveraging its proprietary technology to serve underserved banking segments with a branchless model.
VersaBank reported strong third-quarter results for 2025, highlighting the expansion of its RPP Program, which is expected to generate additional asset and earnings growth in both the US and Canada. The bank also added two new RPP partners in Canada, including its first RPP securitization partner, and launched a tokenized deposit pilot program in the US. Despite incurring significant non-interest expenses related to a proposed realignment of its corporate structure, VersaBank anticipates that the benefits of this realignment will exceed the costs, aiming to enhance shareholder value, mitigate risks, and reduce corporate expenses.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank has declared a cash dividend of CAD $0.025 per common share for the quarter ending October 31, 2025, payable to shareholders on October 31, 2025. This announcement reflects the bank’s ongoing commitment to providing returns to its shareholders and highlights its stable financial position. The dividend declaration may positively impact investor confidence and underscores VersaBank’s strategic focus on leveraging its digital banking model to enhance shareholder value.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank has declared a cash dividend of CAD $0.025 per Common Share for the quarter ending October 31, 2025, payable on the same date to shareholders recorded by October 10, 2025. This announcement reflects the bank’s continued financial health and commitment to returning value to shareholders, while its innovative business model and recent expansion efforts position it strongly in the North American market.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank has announced the addition of two new partners to its Receivable Purchase Program (RPP) in Canada, marking its first securitization partner. This expansion is expected to enhance VersaBank’s market presence and address a larger market in both Canada and the United States. The bank’s RPP Securitized Financing strategy aims to meet the demand for lower-cost securitized financing, driven by the current interest rate environment, by investing in senior-level tranches of securitized credit assets and establishing a platform for asset securitization with its financing partners.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$17.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank has launched a pilot program for its USDVBs, a US-dollar version of its proprietary Digital Deposit Receipts, in the United States. This initiative aims to demonstrate the functionality and compliance of these tokenized deposits, which offer advantages over stablecoins, such as FDIC insurance and the ability to pay interest. The pilot program is a significant step towards commercializing USDVBs in the U.S., potentially providing a low-cost funding source for VersaBank’s growth and offering a market-ready solution for banks and financial businesses to enter the digital commerce space.
The most recent analyst rating on (TSE:VBNK) stock is a Hold with a C$16.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank announced it will release its third quarter fiscal 2025 financial results on September 4, 2025, followed by a conference call and webcast. This event will feature presentations by the bank’s leadership and a Q&A session, providing stakeholders with insights into the bank’s performance and strategic direction. The announcement underscores VersaBank’s commitment to transparency and engagement with its investors, potentially impacting its market positioning and stakeholder confidence.
The most recent analyst rating on (TSE:VBNK) stock is a Hold with a C$16.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.
VersaBank has expanded its Receivable Purchase Program (RPP) in the United States and Canada by launching a securitized financing solution, aiming to capitalize on the demand for lower-cost securitized financing. This strategic move is expected to generate additional asset and earnings growth, strengthen relationships with financing partners, and enhance the bank’s market position in both countries. To support this initiative, VersaBank has appointed Timothy Comiskey, a veteran in capital markets, to lead the expansion in the US.
The most recent analyst rating on (TSE:VBNK) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Versabank stock, see the TSE:VBNK Stock Forecast page.