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Versabank (US) (VBNK)
:VBNK
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.28Last Year’s EPS
0.33Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2019
|% Change Since: -26.01%
|Next Earnings Date:Nov 28, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong growth in total assets and net income, driven by the Canadian RPP business and strategic U.S. expansion. However, the impact of the U.S. acquisition and challenging economic conditions affected revenue and profitability. Despite these challenges, the outlook for 2025 remains positive, focusing on the expansion of the U.S. RPP program and leveraging digital banking innovations.Company Guidance
During the VersaBank Q4 2024 earnings call, key financial guidance highlighted a number of metrics, reflecting the bank's strategic moves and financial health. For the fourth quarter, the bank reported total assets reaching a record high of $4.8 billion, with a 15% growth year-over-year, driven by its Canadian Receivable Purchase Program (RPP). Despite the "noise" from its U.S. Bank acquisition, which accounted for $5.6 million in noninterest expenses for the quarter and reduced EPS by $0.18, the bank's net income, excluding these onetime impacts, stood at $10 million or $0.38 per share. The net interest margin (NIM) was impacted by the typically inverted yield curve, but the bank remains optimistic about margin improvement in 2025, as it anticipates higher spreads from the ramp-up of its U.S. RPP. Additionally, the bank's CET1 ratio was at 11.24%, and its leverage ratio was 7.38%, both surpassing internal targets. Looking forward, VersaBank expects continued growth and new records in net income and return on common equity, driven by its expanding Canadian and U.S. RPP and the development of its CMHC insured loan business.Record High Total Assets
Q4 saw a record high of total assets at $4.8 billion, driven by 15% year-over-year growth in the Canadian RPP business.
Record Net Income for the Year
Generated record net income for the year, excluding the onetime impact of the U.S. acquisition, driven by growth in the Canadian point-of-sale Receivable Purchase Program.
Strong Balance Sheet Growth
Total assets grew 15% year-over-year and 7% sequentially to a new high of $4.8 billion. Cash and securities increased to 11% of total assets.
Growth in Canadian RPP Business
Canadian RPP business expanded by 15% year-over-year and 2% sequentially despite economic challenges.
Positive Outlook for U.S. RPP
Expecting significant growth in the U.S. RPP business with anticipated increased efficiencies and higher spreads compared to Canada.
Innovative Digital Banking Operations
Transitioning to a U.S. operation with a new leadership team and a focus on leveraging digital capabilities.
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VBNK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VBNK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 09, 2024 | $17.99 | $16.03 | -10.89% |
| Sep 05, 2024 | $13.32 | $12.76 | -4.20% |
| Jun 05, 2024 | $9.66 | $9.67 | +0.10% |
| Mar 06, 2024 | $11.83 | $11.28 | -4.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Versabank (US) (VBNK) report earnings?
Versabank (US) (VBNK) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Versabank (US) (VBNK) earnings time?
Versabank (US) (VBNK) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VBNK EPS forecast?
VBNK EPS forecast for the fiscal quarter 2025 (Q1) is 0.28.
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