Versabank reports results for the quarter ended January 31 - Earnings Summary

• Versabank VBNK.TO reported quarterly adjusted earnings of 28 cents​​ per share for the quarter ended January 31, lower than the same quarter last year, when the company reported EPS of 48 cents. The mean expectation of three analysts for the quarter was for earnings of 39 cents per share. Wall Street expected results to range from 32 cents to 46 cents per share.

• Revenue fell 3.2% to C$25.72 million from a year ago; analysts expected C$30.22 million.

• Versabank's reported EPS for the quarter was 28 cents​.

• The company reported quarterly net income of C$8.14 million.

• Versabank shares had fallen by 12.1% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 17.7% 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$27.00

This summary was machine generated from LSEG data March 5 at 06:48 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)