VersaBank (TSE:VBNK) Full Year 2022 Results
Key Financial Results
Revenue: CA$81.9m (up 35% from FY 2021).
Net income: CA$22.7m (up 8.9% from FY 2021).
Profit margin: 28% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses.
All figures shown in the chart above are for the trailing 12 month (TTM) period
VersaBank Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 3.7%.
Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in Canada.
The company's shares are up 10% from a week ago.
We should say that we've discovered 1 warning sign for VersaBank that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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