Bancorp (NASDAQ:TBBK) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Bancorp (NASDAQ:TBBK) released its quarterly earnings results on Thursday. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08), Zacks reports. The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. During the same period in the previous year, the company earned $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 Price Performance

Shares of Bancorp stock traded down $7.54 during trading hours on Friday, hitting $47.42. The company’s stock had a trading volume of 1,040,149 shares, compared to its average volume of 617,446. The business has a 50 day moving average price of $52.20 and a two-hundred day moving average price of $42.75. Bancorp has a 12-month low of $29.92 and a 12-month high of $59.26. The company has a market cap of $2.32 billion, a PE ratio of 12.80 and a beta of 1.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Piper Sandler lifted their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th.

Bancorp Company Profile

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.