VersaBank and Fiserv unveiled a partnership via VersaBank USA to issue and manage Roughrider Coin, a USD-backed stablecoin for Bank of North Dakota. VersaBank will mint, burn, custody and manage reserves as the first live use case of Fiserv’s Digital Asset Platform, highlighting VersaBank's digital-asset capabilities and potentially expanding its US bank-custody opportunities.
Analyst initiates coverage on VBNK with a price target of $18. VersaBank is federally chartered in the U.S. and Canada after acquiring Stearns Bank. Management aims to enhance leverage via point-of-sale lending model in the U.S. Analyst anticipates modest net interest margin expansion due to retail pricing power. FY25 EPS forecasted at $1.68, despite pressures from lower-margin real estate loans.
VBNK's shares hit a 52-week high at $14.22, closing at $13.40. Acquired Stearns Bank for $14 million, bolstering its asset base significantly. Launch of Receivable Purchase Program targets the large U.S. financing market. Expected earnings per share growth post-acquisition indicates strong profitability potential. Other finance stocks like JHG and BWB are also pursuing acquisitions.