Bancorp (NASDAQ:TBBK) Posts Earnings Results

Bancorp (NASDAQ:TBBK) announced its earnings results on Thursday. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08), Zacks reports. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same period in the prior year, the business posted $0.92 EPS. 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 TBBK opened at $47.01 on Friday. The company has a market capitalization of $2.30 billion, a P/E ratio of 12.24 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. The firm has a 50 day moving average of $52.17 and a 200 day moving average of $42.92. Bancorp has a twelve month low of $29.92 and a twelve month high of $59.26.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TBBK. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, Piper Sandler raised their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note 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.