Zacks: Analysts Anticipate Bancorp Inc (TBBK) Will Announce Quarterly Sales of $50.19 Million

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Equities research analysts forecast that Bancorp Inc (NASDAQ:TBBK) will announce sales of $50.19 million for the current quarter, according to Zacks. Two analysts have provided estimates for Bancorp’s earnings, with the highest sales estimate coming in at $50.30 million and the lowest estimate coming in at $50.08 million. Bancorp posted sales of $46.84 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The company is expected to issue its next earnings report on Thursday, January 24th.

On average, analysts expect that Bancorp will report full-year sales of $277.51 million for the current fiscal year, with estimates ranging from $277.43 million to $277.60 million. For the next fiscal year, analysts forecast that the company will post sales of $224.67 million, with estimates ranging from $216.30 million to $233.04 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Bancorp.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 25th. The bank reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.31). The company had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $120.75 million. Bancorp had a net margin of 6.61% and a return on equity of 11.88%.

TBBK has been the subject of a number of research reports. TheStreet lowered shares of Bancorp from a “b” rating to a “c” rating in a research note on Thursday, August 30th. BidaskClub lowered shares of Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 18th. Zacks Investment Research lowered Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, ValuEngine lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Shares of TBBK opened at $10.44 on Wednesday. The firm has a market cap of $584.22 million, a price-to-earnings ratio of 20.47 and a beta of 0.98. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 0.17. Bancorp has a 1-year low of $8.51 and a 1-year high of $12.00.

In other news, Director Daniel G. Cohen sold 25,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $9.63, for a total value of $240,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. IndexIQ Advisors LLC increased its stake in shares of Bancorp by 9.3% in the 2nd quarter. IndexIQ Advisors LLC now owns 202,534 shares of the bank’s stock worth $2,119,000 after purchasing an additional 17,182 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Bancorp by 8.5% in the 2nd quarter. American Century Companies Inc. now owns 591,969 shares of the bank’s stock worth $6,192,000 after purchasing an additional 46,206 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of Bancorp in the 2nd quarter worth $168,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Bancorp by 358.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 16,734 shares of the bank’s stock worth $175,000 after purchasing an additional 13,083 shares in the last quarter. Finally, Bailard Inc. increased its stake in shares of Bancorp by 428.9% in the 2nd quarter. Bailard Inc. now owns 64,000 shares of the bank’s stock worth $669,000 after purchasing an additional 51,900 shares in the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and retirement accounts.

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