Bancorp (NASDAQ:TBBK) Updates FY 2024 Earnings Guidance

Bancorp (NASDAQ:TBBK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.350-4.350 for the period, compared to the consensus earnings per share estimate of 4.400. The company issued revenue guidance of -. Bancorp also updated its FY 2025 guidance to 5.250-5.250 EPS.

Bancorp Price Performance

TBBK stock traded down $7.95 during mid-day trading on Friday, reaching $47.01. 2,453,689 shares of the company traded hands, compared to its average volume of 624,271. Bancorp has a 52-week low of $29.92 and a 52-week high of $59.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84. The company has a market capitalization of $2.30 billion, a P/E ratio of 12.24 and a beta of 1.45. The company has a fifty day moving average price of $52.17 and a 200-day moving average price of $42.92.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same period in the previous year, the firm posted $0.92 EPS. As a group, analysts anticipate that Bancorp will post 4.37 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on TBBK shares. Piper Sandler boosted their price objective on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th.

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.