Bancorp (NASDAQ:TBBK) Announces Quarterly Earnings Results

Bancorp (NASDAQ:TBBK) issued its quarterly earnings data on Thursday. The bank reported $1.47 EPS for the quarter, meeting the consensus estimate of $1.47, FiscalAI reports. The company had revenue of $135.89 million for the quarter, compared to analyst estimates of $154.86 million. Bancorp had a return on equity of 32.32% and a net margin of 27.72%.

Bancorp Price Performance

TBBK stock traded up $0.10 during trading on Thursday, hitting $50.52. The stock had a trading volume of 692,431 shares, compared to its average volume of 512,230. Bancorp has a twelve month low of $47.01 and a twelve month high of $79.30. The company’s 50-day moving average price is $54.38 and its two-hundred day moving average price is $58.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $2.06 billion, a P/E ratio of 9.50 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TBBK. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Bancorp in a research note on Tuesday, October 20th. DA Davidson set a $64.00 price target on shares of Bancorp in a research note on Tuesday, October 20th. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $79.00 price target (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. Finally, Stephens restated an “equal weight” rating and set a $59.00 price objective on shares of Bancorp in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.75.

Insider Activity at Bancorp

In other Bancorp news, CAO Martin Egan sold 3,057 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $72.03, for a total transaction of $220,195.71. Following the completion of the transaction, the chief accounting officer owned 30,219 shares of the company’s stock, valued at $2,176,674.57. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.00% of the stock is owned by insiders.

About Bancorp

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.