Bancorp (NASDAQ:TBBK – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.20-$3.20 for the period, compared to the consensus earnings per share estimate of $2.92. The company issued revenue guidance of -. Bancorp also updated its FY 2022 guidance to $2.25-$2.30 EPS.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TBBK. TheStreet cut shares of Bancorp from a b rating to a c+ rating in a research note on Monday, September 12th. Piper Sandler upped their target price on shares of Bancorp to $32.00 in a research note on Tuesday. Finally, StockNews.com started coverage on shares of Bancorp in a research report on Wednesday, October 12th. They set a hold rating for the company.
Bancorp Trading Up 0.8 %
Bancorp stock opened at $28.53 on Thursday. Bancorp has a one year low of $16.59 and a one year high of $33.36. The business’s fifty day moving average is $23.97 and its 200 day moving average is $22.38. The stock has a market capitalization of $1.61 billion, a PE ratio of 14.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.87.
Insider Buying and Selling at Bancorp
In related news, Director Matthew Cohn purchased 18,040 shares of Bancorp stock in a transaction dated Tuesday, November 1st. The stock was purchased at an average cost of $28.00 per share, for a total transaction of $505,120.00. Following the completion of the purchase, the director now directly owns 39,798 shares of the company’s stock, valued at approximately $1,114,344. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.30% of the company’s stock.
Institutional Investors Weigh In On Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. lifted its holdings in shares of Bancorp by 325.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after buying an additional 935 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Bancorp during the second quarter valued at $63,000. Federated Hermes Inc. lifted its holdings in Bancorp by 35.4% in the first quarter. Federated Hermes Inc. now owns 2,522 shares of the bank’s stock valued at $71,000 after acquiring an additional 660 shares during the period. PNC Financial Services Group Inc. boosted its position in Bancorp by 93.9% in the first quarter. PNC Financial Services Group Inc. now owns 3,012 shares of the bank’s stock worth $86,000 after purchasing an additional 1,459 shares during the last quarter. Finally, US Bancorp DE bought a new stake in shares of Bancorp during the 1st quarter valued at about $87,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
About Bancorp
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, and commercial accounts; and prepaid and debit cards.
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Read More: Bancorp (NASDAQ:TBBK) Issues FY 2023 Earnings Guidance