Bancorp (NASDAQ:TBBK - Get Free Report) announced its earnings results on Thursday. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08), Zacks reports. The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. During the same quarter last year, the company 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 Price Performance
Shares of NASDAQ TBBK traded down $7.95 during midday trading on Friday, hitting $47.01. The company had a trading volume of 2,452,869 shares, compared to its average volume of 624,271. The business has a 50-day simple moving average of $52.20 and a two-hundred day simple moving average of $42.75. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.24 and a beta of 1.45. Bancorp has a twelve month low of $29.92 and a twelve month high of $59.26.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on TBBK. StockNews.com lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th. Piper Sandler raised their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a 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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