Bancorp (NASDAQ:TBBK) Shares Gap Down After Earnings Miss

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $77.20, but opened at $69.13. Bancorp shares last traded at $66.85, with a volume of 353,000 shares.

The bank reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.16). Bancorp had a net margin of 27.16% and a return on equity of 27.24%. The business had revenue of $174.61 million for the quarter, compared to analysts’ expectations of $99.60 million. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings raised Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Raymond James Financial raised Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Bancorp in a research report on Friday, July 18th. Jefferies Financial Group raised Bancorp to a “buy” rating in a research report on Monday, July 7th. Finally, Barclays reaffirmed a “buy” rating on shares of Bancorp in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $62.00.

Insider Transactions at Bancorp

In other news, EVP Ryan Harris sold 9,841 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total value of $751,557.17. Following the completion of the transaction, the executive vice president directly owned 129,598 shares of the company’s stock, valued at approximately $9,897,399.26. The trade was a 7.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Gregor J. Garry sold 12,532 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $75.14, for a total value of $941,654.48. Following the completion of the transaction, the chief operating officer directly owned 110,107 shares of the company’s stock, valued at approximately $8,273,439.98. The trade was a 10.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,841 shares of company stock valued at $1,729,716. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Bancorp by 8.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock valued at $157,000 after buying an additional 169 shares in the last quarter. Ethic Inc. increased its position in Bancorp by 4.5% during the 2nd quarter. Ethic Inc. now owns 4,177 shares of the bank’s stock valued at $239,000 after buying an additional 178 shares in the last quarter. Osaic Holdings Inc. increased its position in Bancorp by 3.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after buying an additional 197 shares in the last quarter. California State Teachers Retirement System increased its position in Bancorp by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 42,929 shares of the bank’s stock valued at $2,446,000 after buying an additional 253 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Bancorp by 19.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock valued at $119,000 after buying an additional 261 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Down 15.3%

The company has a 50-day moving average of $76.15 and a 200-day moving average of $63.58. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.06 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.