Bancorp Inc (TBBK) Expected to Post Quarterly Sales of $52.99 Million

Wall Street brokerages expect that Bancorp Inc (NASDAQ:TBBK) will report sales of $52.99 million for the current quarter, Zacks reports. Two analysts have made estimates for Bancorp’s earnings, with the highest sales estimate coming in at $53.58 million and the lowest estimate coming in at $52.40 million. Bancorp reported sales of $46.57 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.8%. The company is expected to report its next earnings results on Thursday, July 25th.

On average, analysts expect that Bancorp will report full year sales of $231.52 million for the current year, with estimates ranging from $229.60 million to $233.44 million. For the next financial year, analysts forecast that the company will report sales of $244.10 million, with estimates ranging from $240.00 million to $248.19 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Bancorp.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, April 25th. The bank reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The company had revenue of $64.38 million for the quarter, compared to analyst estimates of $60.19 million. Bancorp had a return on equity of 10.97% and a net margin of 29.70%.

TBBK has been the topic of several research analyst reports. TheStreet lowered Bancorp from a “b-” rating to a “c” rating in a research report on Monday, April 8th. BidaskClub raised Bancorp from a “strong sell” rating to a “sell” rating in a report on Monday, February 25th. ValuEngine lowered Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research raised Bancorp from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a report on Tuesday, April 30th.

Large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new position in shares of Bancorp in the first quarter valued at approximately $36,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Bancorp by 11,760.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,049 shares of the bank’s stock valued at $49,000 after purchasing an additional 5,998 shares during the period. BerganKDV Wealth Management LLC increased its holdings in shares of Bancorp by 31.3% in the first quarter. BerganKDV Wealth Management LLC now owns 9,607 shares of the bank’s stock valued at $78,000 after purchasing an additional 2,292 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Bancorp during the first quarter worth $85,000. Finally, Virtu Financial LLC acquired a new position in Bancorp during the fourth quarter worth $89,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

TBBK traded down $0.17 during trading on Friday, hitting $8.84. 75,000 shares of the stock were exchanged, compared to its average volume of 150,274. The firm has a market cap of $507.67 million, a price-to-earnings ratio of 12.81 and a beta of 1.34. Bancorp has a 1-year low of $7.64 and a 1-year high of $11.73. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 0.13.

Bancorp Company Profile

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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

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Earnings History and Estimates for Bancorp (NASDAQ:TBBK)

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