Bancorp (NASDAQ:TBBK) Releases FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

Bancorp Price Performance

TBBK traded down $0.19 on Thursday, hitting $33.41. 789,536 shares of the company’s stock were exchanged, compared to its average volume of 632,603. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 9.54 and a beta of 1.45. Bancorp has a fifty-two week low of $26.12 and a fifty-two week high of $47.11. The firm has a 50-day moving average price of $36.49 and a 200-day moving average price of $38.01. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $119.15 million for the quarter, compared to analyst estimates of $118.52 million. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. As a group, equities analysts anticipate that Bancorp will post 4.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephanie B. Mudick bought 2,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the acquisition, the director now directly owns 31,584 shares in the company, valued at $1,172,082.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Daniela Mielke bought 3,315 shares of Bancorp stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at $1,205,647.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie B. Mudick bought 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was purchased at an average price of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the acquisition, the director now directly owns 31,584 shares in the company, valued at $1,172,082.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,800 shares of company stock worth $308,838. 5.20% of the stock is owned by corporate insiders.

About Bancorp

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.