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

Bancorp (NASDAQ:TBBK) posted 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. The firm had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. During the same quarter in the prior year, the company posted $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 Stock Performance

Shares of TBBK opened at $47.01 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84. Bancorp has a one year low of $29.92 and a one year high of $59.26. The company has a 50-day simple moving average of $52.17 and a two-hundred day simple moving average of $42.92. The firm has a market capitalization of $2.30 billion, a PE ratio of 12.24 and a beta of 1.45.

Analyst Upgrades and Downgrades

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

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.