Zacks: Brokerages expect The Bancorp, Inc. (NASDAQ: TBBK) to report quarterly sales of $83.48 million
Analysts expect The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) to report revenue of $83.48 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts provided estimates of Bancorp’s earnings, with the highest sales estimate of $83.78 million and the lowest estimate of $83.17 million. Bancorp reported sales of $77.83 million in the same quarter last year, indicating a positive year-over-year growth rate of 7.3%. The company is due to release its next earnings report on Thursday, May 5.
According to Zacks, analysts expect Bancorp to report annual sales of $350.08 million for the current fiscal year, with estimates ranging from $344.08 million to $356.08 million. For the next fiscal year, analysts expect the company to record sales of $398.65 million, with estimates ranging from $383.29 million to $414.00 million. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side analysts who provide coverage for Bancorp.
Bancorp (NASDAQ:TBBK – Get Rating) last released its results on Thursday, January 27. The bank reported earnings per share (EPS) of $0.46 for the quarter, beating analysts’ consensus estimate of $0.45 by $0.01. Bancorp had a return on equity of 17.63% and a net margin of 33.47%. In the same quarter a year earlier, the company posted earnings per share of $0.41.
TBBK has been the subject of several research reports. Raymond James raised his target price on Bancorp from $30.00 to $38.00 and gave the stock a “strong buy” rating in a Monday, November 1 research report. Keefe, Bruyette & Woods assumed Bancorp coverage in a research report on Tuesday, January 11. They issued an “outperform” rating and a target price of $40.00 on the stock. Finally, Zacks Investment Research upgraded Bancorp from a “hold” rating to a “buy” rating and set a price target of $33.00 on the stock in a Wednesday, Feb. 2 research report.
TBBK stock opened at $29.35 on Friday. Bancorp has a 52-week low of $19.55 and a 52-week high of $33.36. The stock’s fifty-day simple moving average is $28.25 and its 200-day simple moving average is $27.36. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt ratio of 0.23. The stock has a market capitalization of $1.67 billion, a price-earnings ratio of 15.61 and a beta of 1.42.
Several hedge funds and other institutional investors have recently changed their positions in the company. Comerica Bank increased its stake in Bancorp by 340.4% in the second quarter. Comerica Bank now owns 59,640 shares of the bank worth $1,375,000 after purchasing an additional 46,098 shares last quarter. Charles Schwab Investment Management Inc. increased its stake in Bancorp by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 355,486 shares of the bank worth $8,180,000 after buying an additional 6,110 shares last quarter. Acuitas Investments LLC increased its stake in Bancorp by 25.8% in the third quarter. Acuitas Investments LLC now owns 130,990 shares of the bank worth $3,334,000 after buying 26,848 additional shares last quarter. Orchard Capital Management LLC increased its stake in Bancorp by 0.6% in the second quarter. Orchard Capital Managment LLC now owns 1,252,732 shares of the bank worth $28,825,000 after purchasing an additional 6,910 shares last quarter. Finally, Banc Funds Co. LLC acquired a new position in Bancorp in the third quarter worth approximately $527,000. 90.37% of the shares are currently held by institutional investors and hedge funds.
Bancorp Company Profile (Get an evaluation)
The Bancorp, Inc operates as a financial holding company. The company 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. Specialty finance includes commercial mortgage sales and securitizations, small business administration loans; direct leasing; and lines of credit and deposits backed by securities and insurance generated by the businesses.
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