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.
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.
Featured Article: Earnings Per Share (EPS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.