The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report)'s stock price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $54.96, but opened at $50.00. Bancorp shares last traded at $48.20, with a volume of 350,917 shares trading hands.
The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analysts' expectations of $131.34 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. During the same quarter in the previous year, the company earned $0.92 earnings per share.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Piper Sandler boosted their price objective on Bancorp from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, StockNews.com cut shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th.
View Our Latest Report on Bancorp
Institutional Investors Weigh In On Bancorp
Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock valued at $29,000 after acquiring an additional 291 shares in the last quarter. Blue Trust Inc. raised its holdings in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock worth $55,000 after purchasing an additional 1,272 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in shares of Bancorp during the 2nd quarter valued at about $216,000. Finally, Arcus Capital Partners LLC purchased a new position in shares of Bancorp during the first quarter valued at about $221,000. Hedge funds and other institutional investors own 96.22% of the company's stock.
Bancorp Price Performance
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's 50-day moving average is $52.17 and its 200-day moving average is $42.85. The company has a market cap of $2.30 billion, a PE ratio of 12.24 and a beta of 1.45.
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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