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Versabank (TSE:VBNK)
TSX:VBNK
Earnings Data
Report Date
Jun 04, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.29Last Year’s EPS
0.45Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 05, 2025
|% Change Since: -18.66%
|Next Earnings Date:Jun 04, 2025
Earnings Call Sentiment|Neutral
The call highlighted significant achievements, including U.S. expansion, successful capital raises, and record assets, indicating positive growth prospects. However, challenges such as decreased revenue, increased expenses, and higher provisions for credit losses were also noted, suggesting areas that need attention. The overall sentiment is balanced with significant positive and negative aspects.Company Guidance
During VersaBank's First Quarter Fiscal 2025 Financial Results Conference Call, significant guidance was provided emphasizing strategic advancements and financial metrics. The bank reported a 15% year-over-year and 3% sequential increase in total assets, reaching just under $5 billion. VersaBank signed its first U.S. partner, Watercress Financial, post-U.S. bank acquisition, aiming to expand funding throughout the year, contributing to expected U.S. growth. They completed an $86 million capital raise, enhancing their U.S. RPP opportunity. Total consolidated revenue stood at $27.8 million, slightly lower than last year's $28.9 million, due to a reduced net interest margin and lower non-interest income. Canadian digital banking operations generated $23.8 million in revenue, with a net income of $8.8 million or $0.30 per share. The bank's credit asset portfolio reached a record $4.35 billion, driven by a 10% year-over-year increase in the Receivable Purchase Program (RPP) to $3.4 billion. The net interest margin on credit assets was reported at 2.36%, reflecting a slight sequential increase. Looking forward, VersaBank expects further margin expansion due to declining funding costs and plans for significant growth in both Canadian and U.S. RPP operations, with an emphasis on expanding their U.S. presence and leveraging digital deposit receipts to fuel growth.U.S. Expansion and New Partnerships
VersaBank signed its first RPP partner in the United States following the U.S. bank acquisition, partnering with Watercress Financial. The partnership is expected to significantly contribute to U.S. growth throughout the year.
Successful Capital Raise
Completed a successful $86 million capital raise to support U.S. RPP opportunities, including full execution of over-allotment option.
Record Total Assets
Total assets reached a new high of just under $5 billion, a 15% year-over-year increase and a 3% sequential increase.
Book Value Per Share
Book value per share increased to a record $16.03.
Improving Net Interest Margin
Net interest margin on credit assets increased sequentially, with expectations for further declines in the cost of funds in the near term.
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TSE: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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TSE:VBNK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 05, 2025 | C$17.36 | C$14.95 | -13.88% |
| Dec 09, 2024 | C$25.39 | C$22.50 | -11.37% |
| Sep 05, 2024 | C$17.99 | C$17.32 | -3.71% |
| Jun 05, 2024 | C$13.24 | C$12.97 | -2.02% |
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 (TSE:VBNK) report earnings?
Versabank (TSE:VBNK) is schdueled to report earning on Jun 04, 2025, TBA Not Confirmed.
What is Versabank (TSE:VBNK) earnings time?
Versabank (TSE:VBNK) earnings time is at Jun 04, 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 TSE:VBNK EPS forecast?
TSE:VBNK EPS forecast for the fiscal quarter 2025 (Q2) is 0.29.
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