Bancorp (NASDAQ:TBBK) Updates FY 2024 Earnings Guidance

Bancorp (NASDAQ:TBBK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.350-4.350 for the period, compared to the consensus earnings per share estimate of 4.460. The company issued revenue guidance of -.

Bancorp Stock Performance

Shares of NASDAQ:TBBK traded up $1.75 during trading on Thursday, hitting $51.30. 1,090,372 shares of the company were exchanged, compared to its average volume of 630,805. The company has a market cap of $2.68 billion, a PE ratio of 13.84 and a beta of 1.47. The stock has a 50 day moving average of $37.17 and a 200 day moving average of $37.24. Bancorp has a 52-week low of $29.92 and a 52-week high of $52.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. The firm had revenue of $123.80 million for the quarter, compared to the consensus estimate of $126.86 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, equities research analysts predict that Bancorp will post 4.53 EPS for the current year.

Wall Street Analysts Forecast Growth

TBBK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on Bancorp from $52.00 to $46.00 and set an outperform rating on the stock in a research report on Friday, April 5th. StockNews.com raised Bancorp from a sell rating to a hold rating in a research note on Monday, April 29th. Finally, Piper Sandler reissued an overweight rating and issued a $55.00 target price on shares of Bancorp in a research note on Tuesday, July 2nd.

Insider Activity at Bancorp

In other news, Director Cheryl Creuzot sold 766 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total transaction of $25,002.24. Following the transaction, the director now directly owns 7,638 shares of the company’s stock, valued at $249,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Cheryl Creuzot sold 766 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total transaction of $25,002.24. Following the transaction, the director now directly owns 7,638 shares of the company’s stock, valued at $249,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hersh Kozlov acquired 1,000 shares of Bancorp stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $32.53 per share, for a total transaction of $32,530.00. Following the completion of the purchase, the director now directly owns 111,264 shares of the company’s stock, valued at approximately $3,619,417.92. The disclosure for this purchase can be found here. Insiders have bought a total of 1,706 shares of company stock valued at $54,962 over the last 90 days. 5.20% of the stock is owned by insiders.

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.