Piper Sandler Equities Analysts Cut Earnings Estimates for Bancorp Inc (NASDAQ:TBBK)
Bancorp Inc (NASDAQ:TBBK) – Analysts at Piper Sandler cut their Q3 2021 earnings per share estimates for Bancorp in a research note issued on Thursday, July 9th. Piper Sandler analyst F. Schiraldi now expects that the bank will post earnings per share of $0.33 for the quarter, down from their prior estimate of $0.34. Piper Sandler has a “Overweight” rating and a $12.00 price target on the stock.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, April 30th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $59.51 million during the quarter, compared to analyst estimates of $62.16 million. Bancorp had a net margin of 16.64% and a return on equity of 11.76%.
Shares of Bancorp stock opened at $8.60 on Monday. The stock has a market cap of $491.52 million, a PE ratio of 10.62 and a beta of 1.62. The firm has a fifty day moving average price of $9.02 and a 200 day moving average price of $9.29. Bancorp has a 1 year low of $3.36 and a 1 year high of $13.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.79 and a quick ratio of 0.44.
A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new position in Bancorp during the first quarter worth $38,000. Great West Life Assurance Co. Can purchased a new stake in shares of Bancorp during the fourth quarter worth about $43,000. First Mercantile Trust Co. acquired a new position in shares of Bancorp during the 1st quarter worth about $52,000. Rothschild Investment Corp IL purchased a new position in Bancorp in the 1st quarter valued at about $69,000. Finally, Arizona State Retirement System acquired a new stake in Bancorp in the 1st quarter worth about $73,000. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
In other Bancorp news, Director Matthew Cohn purchased 20,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $7.16 per share, for a total transaction of $143,200.00. Following the completion of the transaction, the director now owns 101,163 shares of the company’s stock, valued at approximately $724,327.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel G. Cohen sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $8.96, for a total value of $537,600.00. Following the completion of the sale, the director now directly owns 138,429 shares in the company, valued at $1,240,323.84. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by company insiders.
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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