Brokerages expect The Bancorp, Inc. (NASDAQ:TBBK) to report $79.41 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for The Bancorp’s earnings. The lowest sales estimate is $79.01 million and the highest is $79.80 million. The Bancorp reported sales of $74.35 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The business is expected to announce its next earnings report on Thursday, November 4th.
On average, analysts expect that The Bancorp will report full year sales of $317.00 million for the current fiscal year, with estimates ranging from $315.72 million to $318.28 million. For the next year, analysts expect that the firm will report sales of $358.37 million, with estimates ranging from $357.59 million to $359.15 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow The Bancorp.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Wednesday, July 28th. The bank reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The Bancorp had a net margin of 32.24% and a return on equity of 17.38%. The business had revenue of $79.93 million during the quarter, compared to the consensus estimate of $76.98 million.
In other news, Director Michael J. Bradley sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $24.45, for a total transaction of $1,222,500.00. Following the completion of the sale, the director now owns 49,884 shares of the company’s stock, valued at $1,219,663.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Damian Kozlowski sold 168,900 shares of the company’s stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $23.13, for a total transaction of $3,906,657.00. Following the sale, the chief executive officer now directly owns 866,311 shares of the company’s stock, valued at approximately $20,037,773.43. The disclosure for this sale can be found here. Insiders have sold 245,603 shares of company stock valued at $5,784,182 in the last three months. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of The Bancorp by 19.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the bank’s stock worth $700,000 after acquiring an additional 4,500 shares during the last quarter. Anderson Hoagland & Co. increased its stake in The Bancorp by 1.2% during the 3rd quarter. Anderson Hoagland & Co. now owns 142,321 shares of the bank’s stock worth $3,622,000 after buying an additional 1,688 shares during the period. State of Alaska Department of Revenue increased its stake in The Bancorp by 18.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 41,594 shares of the bank’s stock worth $1,058,000 after buying an additional 6,334 shares during the period. Parametric Portfolio Associates LLC increased its stake in The Bancorp by 31.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 85,895 shares of the bank’s stock worth $1,976,000 after buying an additional 20,758 shares during the period. Finally, Comerica Bank increased its stake in The Bancorp by 340.4% during the 2nd quarter. Comerica Bank now owns 59,640 shares of the bank’s stock worth $1,375,000 after buying an additional 46,098 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.
Shares of NASDAQ:TBBK traded up $0.47 on Monday, hitting $29.37. 12,698 shares of the company were exchanged, compared to its average volume of 536,608. The firm has a market capitalization of $1.67 billion, a P/E ratio of 16.51 and a beta of 1.47. The stock’s 50 day moving average price is $25.15 and its 200 day moving average price is $23.83. The Bancorp has a 1-year low of $8.41 and a 1-year high of $31.30. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 0.25.
The Bancorp Company Profile
The Bancorp, Inc operates as a financial holding company. The firm 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. The Specialty Finance consists of commercial mortgage loan sales and securitizations, small business administration loans; direct lease financing; and security and insurance backed lines of credit and deposits generated by business lines.
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