Shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Free Report) gapped down earlier than the market opened on Friday following a dissappointing earnings announcement. The inventory had beforehand closed at $54.96, however opened at $50.00. Bancorp shares final traded at $48.20, with a quantity of 350,917 shares.
The financial institution reported $1.04 earnings per share for the quarter, lacking the consensus estimate of $1.12 by ($0.08). Bancorp had a web margin of 31.52% and a return on fairness of 26.81%. The corporate had income of $125.84 million for the quarter, in comparison with analysts’ expectations of $131.34 million. Throughout the identical quarter within the earlier yr, the corporate posted $0.92 EPS.
Wall Avenue Analysts Forecast Progress
A number of analysis companies not too long ago weighed in on TBBK. Piper Sandler elevated their worth goal on Bancorp from $55.00 to $60.00 and gave the corporate an “obese” score in a report on Monday, July twenty ninth. Keefe, Bruyette & Woods restated an “outperform” score and set a $55.00 worth goal (up beforehand from $46.00) on shares of Bancorp in a report on Monday, July twenty ninth. Lastly, StockNews.com lowered Bancorp from a “maintain” score to a “promote” score in a report on Tuesday, July thirtieth.
Examine Out Our Newest Inventory Evaluation on Bancorp
Hedge Funds Weigh In On Bancorp
A number of hedge funds have not too long ago purchased and offered shares of TBBK. GAMMA Investing LLC grew its place in Bancorp by 60.5% within the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the financial institution’s inventory valued at $29,000 after buying an extra 291 shares over the last quarter. Blue Belief Inc. grew its place in Bancorp by 72.3% within the third quarter. Blue Belief Inc. now owns 627 shares of the financial institution’s inventory valued at $34,000 after buying an extra 263 shares over the last quarter. EverSource Wealth Advisors LLC grew its place in Bancorp by 345.7% within the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the financial institution’s inventory valued at $55,000 after buying an extra 1,272 shares over the last quarter. Mesirow Monetary Funding Administration Inc. purchased a brand new place in shares of Bancorp in the course of the 2nd quarter price $216,000. Lastly, Arcus Capital Companions LLC purchased a brand new place in shares of Bancorp in the course of the 1st quarter price $221,000. Institutional traders personal 96.22% of the corporate’s inventory.
Bancorp Inventory Down 14.5 %
The corporate has a present ratio of 0.88, a fast ratio of 0.84 and a debt-to-equity ratio of 0.19. The enterprise has a 50-day transferring common worth of $52.17 and a 200-day transferring common worth of $42.85. The agency has a market cap of $2.30 billion, a P/E ratio of 12.24 and a beta of 1.45.
Bancorp Firm Profile
The Bancorp, Inc operates because the financial institution holding firm for The Bancorp Financial institution, Nationwide Affiliation that gives banking services in america. It gives a spread of deposit services, together with checking, financial savings, time, cash market, and business accounts; overdrafts; and certificates of deposit.
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