Analysts forecast that Bancorp Inc (NASDAQ:TBBK) will announce $52.99 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Bancorp’s earnings, with estimates ranging from $52.40 million to $53.58 million. Bancorp reported sales of $46.57 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.8%. The company is expected to announce its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Bancorp will report full-year sales of $231.52 million for the current fiscal year, with estimates ranging from $229.60 million to $233.44 million. For the next fiscal year, analysts anticipate that the business will report sales of $244.10 million, with estimates ranging from $240.00 million to $248.19 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Bancorp.
Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, April 25th. The bank reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The company had revenue of $64.38 million during the quarter, compared to analysts’ expectations of $60.19 million. Bancorp had a return on equity of 10.97% and a net margin of 29.70%.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Saturday, January 19th. TheStreet cut Bancorp from a “b-” rating to a “c” rating in a research note on Monday, April 8th. BidaskClub raised Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, ValuEngine raised Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 24th.
Shares of TBBK traded down $0.12 on Friday, reaching $9.71. The stock had a trading volume of 118,391 shares, compared to its average volume of 148,638. The stock has a market cap of $546.63 million, a PE ratio of 14.06 and a beta of 1.30. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 0.13. Bancorp has a 12-month low of $7.64 and a 12-month high of $12.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Bancorp by 71.5% during the 4th quarter. Millennium Management LLC now owns 446,184 shares of the bank’s stock valued at $3,552,000 after purchasing an additional 186,015 shares during the last quarter. Virtu Financial LLC acquired a new position in Bancorp during the fourth quarter worth about $89,000. Acadian Asset Management LLC grew its position in shares of Bancorp by 26.4% in the fourth quarter. Acadian Asset Management LLC now owns 183,504 shares of the bank’s stock valued at $1,461,000 after purchasing an additional 38,343 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Bancorp in the third quarter valued at approximately $231,000. Finally, Globeflex Capital L P grew its position in shares of Bancorp by 78.8% in the fourth quarter. Globeflex Capital L P now owns 16,986 shares of the bank’s stock valued at $135,000 after purchasing an additional 7,486 shares during the last quarter. 79.63% of the stock is currently owned by hedge funds and other institutional investors.
Bancorp Company Profile
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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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