Bancorp (NASDAQ:TBBK) Issues FY 2024 Earnings Guidance

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

Bancorp Stock Performance

NASDAQ:TBBK traded up $0.74 during midday trading on Friday, hitting $52.04. The company’s stock had a trading volume of 1,172,554 shares, compared to its average volume of 634,594. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $53.18. The firm’s 50 day moving average is $37.53 and its 200-day moving average is $37.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market cap of $2.72 billion, a P/E ratio of 14.17 and a beta of 1.47.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. The company 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 company earned $0.88 EPS. Equities analysts anticipate that Bancorp will post 4.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several recent research reports. StockNews.com upgraded Bancorp from a sell rating to a hold rating in a research report on Monday, April 29th. Piper Sandler restated an overweight rating and issued a $55.00 price objective on shares of Bancorp in a research report on Tuesday, July 2nd. Finally, 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.

Insider Activity

In other news, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the transaction, the executive vice president now owns 15,262 shares in the company, valued at approximately $491,131.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the transaction, the executive vice president now owns 15,262 shares in the company, valued at approximately $491,131.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hersh Kozlov acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average price of $32.53 per share, for a total transaction of $32,530.00. Following the acquisition, the director now directly owns 111,264 shares in the company, valued at approximately $3,619,417.92. The disclosure for this purchase can be found here. Insiders have acquired 1,706 shares of company stock worth $54,962 in the last quarter. Corporate insiders own 5.20% of the company’s stock.

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.