$84.15 million in sales expected for The Bancorp, Inc. (NASDAQ:TBBK) this quarter

Wall Street analysts expect The Bancorp, Inc. (NASDAQ:TBBK) to post $84.15 million in revenue for the current quarter, reports Zacks Investment Research. Two analysts provided estimates of Bancorp’s earnings, with the highest sales estimate of $84.51 million and the lowest estimate of $83.78 million. Bancorp posted sales of $77.83 million in the same quarter last year, suggesting a positive year-over-year growth rate of 8.1%. The company is expected to release its next earnings report on Thursday, May 5.

According to Zacks, analysts expect Bancorp to report annual revenue of $348.15 million for the current fiscal year, with estimates ranging from $344.08 million to $352.22 million. dollars. For next year, analysts expect the company to post sales of $392.50 million, with estimates ranging from $383.29 million to $401.71 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts who cover Bancorp.

Bancorp Inc (NASDAQ:TBBK) last released quarterly earnings data on Thursday, January 27. The bank reported earnings per share (EPS) of $0.46 for the quarter, beating the consensus estimate of $0.45 by $0.01. Bancorp had a net margin of 33.47% and a return on equity of 17.63%. During the same period last year, the company posted EPS of $0.41.

A number of research analysts have published reports on the company. Keefe, Bruyette & Woods began covering Bancorp in a research report on Tuesday, January 11. They set an “outperform” rating and a price target of $40.00 for the company. Zacks Investment Research upgraded Bancorp from a “hold” rating to a “buy” rating and set a target price of $33.00 on the stock in a research report Wednesday. Finally, Raymond James raised his price target on Bancorp from $30.00 to $38.00 and gave the company a “Strong Buy” rating in a Monday, Nov. 1 research report.

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Shares of TBBK opened at $30.80 on Friday. Bancorp has a 12-month low of $17.86 and a 12-month high of $33.36. The company has a market capitalization of $1.75 billion, a P/E ratio of 16.38 and a beta of 1.42. The company has a current ratio of 0.95, a quick ratio of 0.73 and a debt ratio of 0.23. The company’s 50-day moving average price is $27.37 and its 200-day moving average price is $26.63.

In other news, insider Erika R. Caesar sold 4,000 shares of the company in a trade dated Tuesday, Nov. 9. The stock was sold at an average price of $32.20, for a total transaction of $128,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders hold 4.50% of the company’s shares.

Several hedge funds and other institutional investors have recently bought and sold shares of TBBK. Deutsche Bank AG increased its position in Bancorp shares by 172.6% during the second quarter. Deutsche Bank AG now owns 115,368 shares in the bank worth $2,654,000 after buying an additional 73,040 shares in the last quarter. BlackRock Inc. increased its stake in Bancorp by 74.6% in the second quarter. BlackRock Inc. now owns 8,353,971 shares of the bank valued at $192,225,000 after acquiring 3,569,078 additional shares last quarter. Bank of New York Mellon Corp increased its stake in Bancorp to 98.6% in the second quarter. Bank of New York Mellon Corp now owns 521,808 shares of the bank valued at $12,005,000 after acquiring an additional 259,067 shares last quarter. Great West Life Assurance Co. Can increased its holdings in Bancorp by 1,204.7% in the second quarter. Great West Life Assurance Co. Can now owns 43,995 shares of the bank valued at $1,011,000 after acquiring 40,623 additional shares last quarter. Finally, Shell Asset Management Co. acquired a new position in Bancorp in Q2 valued at around $173,000. 90.37% of the shares are held by institutional investors and hedge funds.

About Bancorp

The Bancorp, Inc operates as a financial holding company. The company engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. Specialty finance includes commercial mortgage sales and securitizations, small business administration loans; direct leasing; and lines of credit and deposits backed by securities and insurance generated by the businesses.

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Earnings history and estimates for Bancorp (NASDAQ: TBBK)

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