Bancorp (NASDAQ:TBBK) posts quarterly earnings results

Bancorp (NASDAQ: TBBK – Get Rating) released its earnings results on Thursday. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04, according to the Fidelity earnings report. Bancorp had a net margin of 41.94% and a return on equity of 17.70%. During the same period last year, the company earned $0.49 EPS. Bancorp updated its fiscal 2022 guidance to $2.25-$2.30 EPS.

Bancorp Stock Up 3.7%

Shares of Bancorp traded higher by $0.88 on Friday at $24.60. The company’s 492,373 shares were traded in the hands, compared to an average volume of 410,846. Bancorp’s 12-month low is $16.59 and a 12-month high is $33.36. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.39 billion, a PE ratio of 12.68 and a beta of 1.38. The company has a 50-day moving average price of $20.16 and a 200-day moving average price of $24.59.

Bancorp’s Institutional Trading

Institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP increased its stake in Bancorp shares by 1.0% during the first quarter. After purchasing an additional 543 shares during the previous quarter, Engineers Gate Manager LP now holds 57,126 shares of the bank’s stock worth $1,618,000. Joseph Capital Management LLC increased its stake in Bancorp by 1.1% in the first quarter. After acquiring an additional 605 shares during the previous quarter, Joseph Capital Management LLC now owns 56,683 shares of the bank’s stock worth $1,606,000. Citigroup Inc. increased its stake in Bancorp by 14.0% in the first quarter. After acquiring an additional 6,287 shares during the previous quarter, Citigroup Inc. Now holds 51,036 shares of the bank’s stock worth $1,446,000. Commonwealth of Pennsylvania Public Schools Emplus Retrumt SYS increased its position in Bancorp by 14.8% in the first quarter. Commonwealth of Pennsylvania Public Schools Emplus Retrum SYS now holds 49,459 shares worth $1,401,000 in the bank after acquiring an additional 6,393 shares in the previous quarter. Finally, First Trust Advisors LP increased its stake in Bancorp’s shares by 8.7% during the first quarter. After purchasing an additional 2,341 shares during the previous quarter, First Trust Advisors LP now holds 29,375 shares worth $832,000 in the bank. Institutional investors and hedge funds own 92.96% of the company’s shares.

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Several analysts have recently released reports on TBBK shares. Piper Sandler lowered its target price on Bancorp from $36.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, July 11. StockNews.com began coverage on Bancorp in a research note on Thursday, March 31. He issued a “hold” rating for the company.

About Bancorp (Get Rating)

The Bancorp, Inc. serves as the financial holding company for The Bancorp Bank which provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market and commercial accounts; and prepaid and debit cards.

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