Bancorp (NASDAQ:TBBK) Announces Quarterly Earnings Results, Meets Estimates

Key Points

• Bancorp met earnings expectations with quarterly EPS of $1.47, while revenue of $135.89 million fell short of the $154.86 million analyst consensus.
• The company reported a 27.72% net margin and 32.32% return on equity. Shares traded near $50.52, well below their 52-week high of $79.30.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $67.75, despite some recent target reductions.

Bancorp (NASDAQ:TBBK - Get Free Report) posted its quarterly earnings results on Thursday. The bank reported $1.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.47, FiscalAI reports. The company had revenue of $135.89 million during the quarter, compared to analyst estimates of $154.86 million. Bancorp had a net margin of 27.72% and a return on equity of 32.32%.

Bancorp Stock Performance

Shares of TBBK traded up $0.10 during trading hours on Thursday, hitting $50.52. The stock had a trading volume of 692,431 shares, compared to its average volume of 512,230. The firm has a 50-day moving average price of $54.38 and a 200 day moving average price of $58.80. Bancorp has a fifty-two week low of $47.01 and a fifty-two week high of $79.30. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 0.88.

Insider Buying and Selling

In other Bancorp news, CAO Martin Egan sold 3,057 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $72.03, for a total value of $220,195.71. Following the completion of the transaction, the chief accounting officer owned 30,219 shares in the company, valued at approximately $2,176,674.57. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.00% of the company's stock.

Analyst Ratings Changes

TBBK has been the topic of several analyst reports. Raymond James Financial set a $88.00 price target on Bancorp in a research report on Friday, August 7th. Piper Sandler reiterated an "overweight" rating and set a $75.00 price objective (down from $86.00) on shares of Bancorp in a research note on Thursday, September 17th. Weiss Ratings raised Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. DA Davidson set a $64.00 target price on Bancorp in a research note on Tuesday, October 20th. Finally, Bank of America restated a "buy" rating on shares of Bancorp in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.75.

Bancorp Company Profile

The Bancorp, Inc NASDAQ: TBBK is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company's services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.

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