Bancorp Third Quarter 2024 Earnings: Misses Expectations

Bancorp (NASDAQ:TBBK) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$122.4m (up 7.5% 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).

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 10% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 9.9% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Bancorp that you should be aware of.

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