Analysts forecast that Bancorp Inc (NASDAQ:TBBK) will announce sales of $120.75 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Bancorp’s earnings, with the highest sales estimate coming in at $121.69 million and the lowest estimate coming in at $119.80 million. Bancorp posted sales of $56.91 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 112.2%. The firm is expected to issue its next earnings report on Thursday, October 25th.
On average, analysts expect that Bancorp will report full year sales of $276.33 million for the current financial year, with estimates ranging from $275.00 million to $277.66 million. For the next financial year, analysts expect that the firm will report sales of $225.32 million, with estimates ranging from $218.30 million to $232.33 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Bancorp.
Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 26th. The bank reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Bancorp had a net margin of 6.61% and a return on equity of 9.81%. The business had revenue of $46.57 million during the quarter, compared to analysts’ expectations of $47.51 million.
A number of research analysts recently weighed in on TBBK shares. TheStreet lowered shares of Bancorp from a “b” rating to a “c” rating in a report on Thursday, August 30th. BidaskClub lowered shares of Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 18th. Finally, Zacks Investment Research lowered shares of Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. Bancorp has a consensus rating of “Hold” and a consensus price target of $11.25.
TBBK stock opened at $9.68 on Thursday. Bancorp has a fifty-two week low of $8.13 and a fifty-two week high of $12.00. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $554.30 million, a P/E ratio of 19.39 and a beta of 1.22.
In other Bancorp news, Director Daniel G. Cohen sold 140,000 shares of Bancorp stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $9.83, for a total transaction of $1,376,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel G. Cohen sold 25,000 shares of Bancorp stock in a transaction on Friday, August 24th. The stock was sold at an average price of $9.63, for a total transaction of $240,750.00. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Koch Industries Inc. purchased a new position in Bancorp during the first quarter worth $115,000. Cubist Systematic Strategies LLC purchased a new position in Bancorp during the first quarter worth $120,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bancorp during the second quarter worth $124,000. Old Mutual Global Investors UK Ltd. purchased a new position in Bancorp during the first quarter worth $147,000. Finally, Bank of Montreal Can boosted its stake in Bancorp by 427.8% during the second quarter. Bank of Montreal Can now owns 14,784 shares of the bank’s stock worth $154,000 after buying an additional 11,983 shares during the period. 79.87% of the stock is owned by institutional investors.
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and prepaid and debit cards.
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