Financial services company The Bancorp (NASDAQ: TBBK) will be announcing earnings results this Thursday after market close. Here’s what you need to know.
The Bancorp beat analysts’ revenue expectations by 21.8% last quarter, reporting revenues of $175.4 million, up 41.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ net interest income estimates and a miss of analysts’ EPS estimates.
Is The Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting The Bancorp’s revenue to grow 55.3% year on year to $193.3 million, improving from the 6.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. The Bancorp has missed Wall Street’s revenue estimates four times over the last two years.
Looking at The Bancorp’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. City Holding delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3%, and Texas Capital Bank reported revenues up 15.2%, topping estimates by 2.7%. Texas Capital Bank traded up 4.8% following the results.
Read our full analysis of City Holding’s results here and Texas Capital Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 8.2% on average over the last month. The Bancorp is up 28.3% during the same time and is heading into earnings with an average analyst price target of $61 (compared to the current share price of $68.71).
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