NasdaqGS:TBBK

Stock Analysis Report

Executive Summary

The Bancorp, Inc. operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States.

Snowflake

Fundamentals

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TBBK has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.4%

TBBK

0.1%

US Banks

0.5%

US Market


1 Year Return

9.1%

TBBK

10.6%

US Banks

16.1%

US Market

Return vs Industry: TBBK underperformed the US Banks industry which returned 10.6% over the past year.

Return vs Market: TBBK underperformed the US Market which returned 16.1% over the past year.


Shareholder returns

TBBKIndustryMarket
7 Day-3.4%0.1%0.5%
30 Day5.5%4.1%3.9%
90 Day18.4%15.7%6.6%
1 Year9.1%9.1%13.9%10.6%18.7%16.1%
3 Year42.1%42.1%37.0%27.5%47.2%37.7%
5 Year18.8%18.8%70.7%51.9%61.5%43.7%

Price Volatility Vs. Market

How volatile is Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bancorp undervalued compared to its fair value and its price relative to the market?

11.23x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TBBK ($10.8) is trading above our estimate of fair value ($4.85)

Significantly Below Fair Value: TBBK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TBBK is good value based on its PE Ratio (11.2x) compared to the Banks industry average (12.6x).

PE vs Market: TBBK is good value based on its PE Ratio (11.2x) compared to the US market (18x).


Price to Earnings Growth Ratio

PEG Ratio: TBBK is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: TBBK is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

19.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TBBK's forecast earnings growth (19.4% per year) is above the savings rate (2.7%).

Earnings vs Market: TBBK's earnings (19.4% per year) are forecast to grow faster than the US market (14.3% per year).

High Growth Earnings: TBBK's earnings are forecast to grow, but not significantly.

Revenue vs Market: TBBK's revenue is expected to decline over the next 3 years (-5.2% per year).

High Growth Revenue: TBBK's revenue is forecast to decline over the next 3 years (-5.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TBBK's Return on Equity is forecast to be low in 3 years time (14.2%).


Next Steps

Past Performance

How has Bancorp performed over the past 5 years?

48.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TBBK has a high level of non-cash earnings.

Growing Profit Margin: TBBK's current net profit margins (23.3%) are lower than last year (25.1%).


Past Earnings Growth Analysis

Earnings Trend: TBBK's earnings have grown significantly by 48.4% per year over the past 5 years.

Accelerating Growth: TBBK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TBBK had negative earnings growth (-20.1%) over the past year, making it difficult to compare to the Banks industry average (27.3%).


Return on Equity

High ROE: TBBK's Return on Equity (11.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TBBK has a low level of unsold assets or inventory.

Debt Coverage by Assets: TBBK's debt is covered by short term assets (assets are 29.2x debt).


Financial Institutions Analysis

Asset Level: TBBK's level of assets compared to its equity is moderate.

Allowance for Bad Loans: TBBK has a sufficient allowance for bad loans.

Low Risk Liabilities: TBBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: TBBK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TBBK's loans are broadly funded by customer deposits.

Level of Bad Loans: TBBK has an appropriate level of bad loans (0.55%)


Next Steps

Dividend

What is Bancorp's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TBBK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TBBK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TBBK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TBBK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TBBK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Bancorp's salary, the management and board of directors tenure and is there insider trading?

3.3yrs

Average management tenure


CEO

Damian Kozlowski (54yo)

3.5yrs

Tenure

US$1,509,324

Compensation

Mr. Damian M. Kozlowski has been the President of The Bancorp Bank since June 1, 2016. Mr. Kozlowski has been the President and Chief Executive Officer of The Bancorp, Inc. since June 1, 2016. Mr. Kozlowsk ...


CEO Compensation Analysis

Compensation vs Market: Damian's total compensation ($USD1.51M) is below average for companies of similar size in the US market ($USD2.63M).

Compensation vs Earnings: Damian's compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.3yrs

Average Tenure

54.5yo

Average Age

Experienced Management: TBBK's management team is considered experienced (3.3 years average tenure).


Board Age and Tenure

15.8yrs

Average Tenure

57yo

Average Age

Experienced Board: TBBK's board of directors are seasoned and experienced ( 15.8 years average tenure).


Insider Trading

Insider Buying: TBBK insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$29,19912 Nov 19
Ron Wechsler
EntityIndividual
Shares2,539
Max PriceUS$11.50
SellUS$244,50812 Nov 19
Daniel Cohen
EntityIndividual
Role
Chairman of the Board
Shares21,314
Max PriceUS$11.47
BuyUS$108,75001 Nov 19
Matthew Cohn
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max PriceUS$10.88
SellUS$247,07101 Nov 19
Ron Wechsler
EntityIndividual
Shares22,461
Max PriceUS$11.00

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Daniel Cohen (50yo)

    • Tenure: 20.8yrs
    • Compensation: US$700.00k
  • Paul Frenkiel (67yo)

    Executive VP of Strategy

    • Tenure: 10.2yrs
    • Compensation: US$529.06k
  • Damian Kozlowski (54yo)

    CEO, President & Director

    • Tenure: 3.5yrs
    • Compensation: US$1.51m
  • Mark Connolly (51yo)

    Executive VP & Head of Credit Markets

    • Tenure: 2.8yrs
    • Compensation: US$758.86k
  • Tom Pareigat (59yo)

    Executive VP & General Counsel

    • Tenure: 8.8yrs
    • Compensation: US$371.85k
  • Joseph McFadden (79yo)

    Executive VP & Senior Executive Advisor

    • Tenure: 3.3yrs
    • Compensation: US$882.09k
  • John Leto (55yo)

    Executive VP & Head of Institutional Banking

    • Tenure: 3.3yrs
    • Compensation: US$859.68k
  • Andres Viroslav

    Director of Investor Relations

    • Tenure: 0yrs
  • Matt Wallace

    Executive VP & Chief Information Officer

    • Tenure: 2.3yrs
  • Greg Garry (36yo)

    Chief Risk Officer

    • Tenure: 0.3yrs

Board Members

  • Jay McEntee (61yo)

    Independent Director

    • Tenure: 19.2yrs
    • Compensation: US$182.53k
  • Mike Bradley (74yo)

    Independent Lead Director

    • Tenure: 0yrs
    • Compensation: US$191.03k
  • Daniel Cohen (50yo)

    • Tenure: 20.8yrs
    • Compensation: US$700.00k
  • William Lamb (79yo)

    Independent Director

    • Tenure: 15.8yrs
    • Compensation: US$162.03k
  • Hersh Kozlov (71yo)

    Independent Director

    • Tenure: 5.8yrs
    • Compensation: US$166.03k
  • Mei-Mei Tuan (52yo)

    Independent Director

    • Tenure: 6.3yrs
    • Compensation: US$172.03k
  • Matthew Cohn (49yo)

    Independent Director

    • Tenure: 20.8yrs
    • Compensation: US$162.03k
  • Walt Beach (52yo)

    Independent Director

    • Tenure: 20.8yrs
    • Compensation: US$165.53k
  • Damian Kozlowski (54yo)

    CEO, President & Director

    • Tenure: 3.5yrs
    • Compensation: US$1.51m
  • John Chrystal (60yo)

    Independent Vice Chairman

    • Tenure: 2.6yrs
    • Compensation: US$180.53k

Company Information

The Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: The Bancorp, Inc.
  • Ticker: TBBK
  • Exchange: NasdaqGS
  • Founded: 1999
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$613.554m
  • Shares outstanding: 56.81m
  • Website: https://www.thebancorp.com

Number of Employees


Location

  • The Bancorp, Inc.
  • 409 Silverside Road
  • Wilmington
  • Delaware
  • 19809
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TBBKNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDFeb 2004

Biography

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 service ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 00:05
End of Day Share Price2019/11/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.