Bancorp Third Quarter 2024 Earnings: Misses Expectations

In This Article:

Bancorp (NASDAQ:TBBK) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$122.3m (up 7.4% from 3Q 2023).

  • Net income: US$51.5m (up 2.8% from 3Q 2023).

  • Profit margin: 42% (down from 44% in 3Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: US$1.06 (up from US$0.93 in 3Q 2023).

earnings-and-revenue-growth
NasdaqGS:TBBK Earnings and Revenue Growth October 26th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bancorp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 7.1%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 19% from a week ago.

Valuation

It's possible that Bancorp could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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