Bancorp (NASDAQ:TBBK) Posts Earnings Results, Misses Expectations By $0.08 EPS

Bancorp (NASDAQ:TBBK) issued its quarterly earnings results on Thursday. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08), Zacks reports. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The firm had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Bancorp updated its FY 2024 guidance to 4.350-4.350 EPS and its FY 2025 guidance to 5.250-5.250 EPS.

Bancorp Trading Down 16.2 %

NASDAQ:TBBK traded down $8.90 on Friday, reaching $46.06. The company’s stock had a trading volume of 1,570,901 shares, compared to its average volume of 620,010. Bancorp has a 12-month low of $29.92 and a 12-month high of $59.26. The stock has a 50 day moving average price of $52.20 and a 200 day moving average price of $42.75. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 12.80 and a beta of 1.45. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TBBK. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler lifted their price target on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.