Brokerages expect that Bancorp Inc (NASDAQ:TBBK) will report $50.19 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bancorp’s earnings, with the lowest sales estimate coming in at $50.08 million and the highest estimate coming in at $50.30 million. Bancorp reported sales of $46.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The business is expected to announce its next earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Bancorp will report full-year sales of $277.51 million for the current year, with estimates ranging from $277.43 million to $277.60 million. For the next financial year, analysts anticipate that the firm will report sales of $224.67 million, with estimates ranging from $216.30 million to $233.04 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Bancorp.
Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 25th. The bank reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.31). Bancorp had a return on equity of 11.88% and a net margin of 6.61%. The firm had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $120.75 million.
Several brokerages recently commented on TBBK. BidaskClub upgraded Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Zacks Investment Research upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. TheStreet cut Bancorp from a “b” rating to a “c” rating in a research report on Thursday, August 30th. Finally, ValuEngine cut Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $11.00.
Shares of TBBK opened at $10.52 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.63 and a quick ratio of 0.51. Bancorp has a one year low of $8.52 and a one year high of $12.00. The company has a market cap of $593.81 million, a P/E ratio of 15.25 and a beta of 0.98.
In related news, Director Daniel G. Cohen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $9.63, for a total transaction of $240,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in Bancorp in the 1st quarter valued at $120,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Bancorp in the 2nd quarter valued at $124,000. Bank of Montreal Can grew its holdings in Bancorp by 427.8% in the 2nd quarter. Bank of Montreal Can now owns 14,784 shares of the bank’s stock valued at $154,000 after buying an additional 11,983 shares in the last quarter. Zeke Capital Advisors LLC purchased a new stake in Bancorp in the 3rd quarter valued at $143,000. Finally, Raymond James & Associates purchased a new stake in Bancorp in the 2nd quarter valued at $168,000. Hedge funds and other institutional investors own 80.06% of the company’s stock.
Bancorp Company Profile
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and retirement accounts.
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