Bancorp (NASDAQ:TBBK) Updates FY 2024 Earnings Guidance

Bancorp (NASDAQ:TBBK) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.250-4.250 for the period, compared to the consensus earnings per share estimate of 4.360. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of research firms recently commented on TBBK. Raymond James lifted their price target on Bancorp from $42.00 to $50.00 and gave the stock an outperform rating in a report on Monday, January 29th. StockNews.com cut Bancorp from a hold rating to a sell rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reduced their price target on Bancorp from $52.00 to $46.00 and set an outperform rating for the company in a report on Friday, April 5th.

Bancorp Price Performance

Shares of NASDAQ TBBK traded down $2.61 during midday trading on Friday, reaching $30.80. The company’s stock had a trading volume of 1,604,035 shares, compared to its average volume of 531,027. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.01. Bancorp has a fifty-two week low of $26.97 and a fifty-two week high of $47.11. The business’s 50 day moving average price is $36.02 and its two-hundred day moving average price is $37.97. The company has a market cap of $1.61 billion, a P/E ratio of 8.37 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Bancorp had a net margin of 30.94% and a return on equity of 26.66%. The company had revenue of $119.15 million during the quarter, compared to the consensus estimate of $118.52 million. On average, analysts forecast that Bancorp will post 4.25 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, Director Stephanie B. Mudick acquired 2,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was acquired at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the transaction, the director now directly owns 31,584 shares in the company, valued at $1,172,082.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Matthew Cohn purchased 2,485 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the acquisition, the director now owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephanie B. Mudick purchased 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were bought at an average price of $37.11 per share, with a total value of $74,220.00. Following the completion of the acquisition, the director now directly owns 31,584 shares of the company’s stock, valued at approximately $1,172,082.24. The disclosure for this purchase can be found here. Insiders bought a total of 7,800 shares of company stock worth $308,838 over the last three months. Corporate insiders own 5.20% of the company’s stock.

Bancorp Company Profile

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.