Bancorp (NASDAQ:TBBK) Releases FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TBBK. Piper Sandler reaffirmed an overweight rating and issued a $55.00 price objective on shares of Bancorp in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut their target price on shares of Bancorp from $52.00 to $46.00 and set an outperform rating for the company in a research note on Friday, April 5th. Finally, StockNews.com raised shares of Bancorp from a sell rating to a hold rating in a research note on Monday, April 29th.

Bancorp Price Performance

Shares of TBBK stock traded up $1.75 on Thursday, reaching $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 price-to-earnings ratio of 13.84 and a beta of 1.47. The business has a 50-day moving average price of $37.17 and a 200 day moving average price of $37.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. Bancorp has a 1 year low of $29.92 and a 1 year high of $52.90.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $123.80 million for the quarter, compared to analyst estimates of $126.86 million. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. During the same period in the previous year, the business posted $0.88 earnings per share. Equities research analysts forecast that Bancorp will post 4.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were 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 in the company, valued at $249,304.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were 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 in the company, valued at $249,304.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the transaction, the executive vice president now owns 15,262 shares in the company, valued at $491,131.16. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 1,706 shares of company stock worth $54,962. 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.