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.
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.
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.
Get a Free Copy of Zacks Research Report on Bancorp (TBBK)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Bancorp right now?
Before you consider Bancorp, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Bancorp wasn’t on the list.
Although Bancorp currently has a “Strong Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here