VersaBank reports results for the quarter ended in January - Earnings Summary

VersaBank

06/03/2024 13:40

* VersaBank  VBNK.TO  reported quarterly adjusted earnings
of 48
cents​​ per share for the quarter ended in January, higher than
the same quarter last year, when the company reported EPS of 34
cents.  The mean expectation of three analysts for the quarter
was for earnings of 46 cents per share. Wall Street expected
results to range from 43 cents to 48 cents per share.
    * Revenue rose 2.5% to C$26.57 million from a year ago;
analysts
expected C$28.90 million. 
    * VersaBank's reported EPS for the quarter was 48 cents​.
    * The company reported quarterly net income of C$12.7
million.
    * VersaBank shares had risen by 10.9% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 7.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for VersaBank is
C$16.00 
This summary was machine generated from LSEG data March 6 at
01:39 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 31 2024      0.46           0.48           Beat
 Oct. 31 2023      0.42           0.47           Beat
 Jul. 31 2023      0.40           0.38           Missed
 Apr. 30 2023      0.36           0.38           Beat