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

by · The Markets Daily

Bancorp (NASDAQ:TBBK – Get Free Report) released its earnings results on Thursday. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08), Zacks reports. The company had revenue of $125.84 million for the quarter, compared to analyst estimates 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 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 Stock Down 14.5 %

TBBK stock opened at $47.01 on Friday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.24 and a beta of 1.45. The company has a 50-day moving average of $52.17 and a two-hundred day moving average of $42.85. 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 52-week low of $29.92 and a 52-week high of $59.26.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TBBK shares. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler lifted 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. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

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About Bancorp

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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.

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