NasdaqGS:TBBK

Stock Analysis Report

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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. More Details


Snowflake Analysis

Flawless balance sheet and undervalued.


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

0.5%

TBBK

1.2%

US Banks

-1.3%

US Market


1 Year Return

-10.3%

TBBK

-28.5%

US Banks

18.5%

US Market

Return vs Industry: TBBK exceeded the US Banks industry which returned -28.5% over the past year.

Return vs Market: TBBK underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

TBBKIndustryMarket
7 Day0.5%1.2%-1.3%
30 Day7.1%3.5%5.3%
90 Day3.3%-0.05%7.5%
1 Year-10.3%-10.3%-25.9%-28.5%21.3%18.5%
3 Year9.6%9.6%-18.6%-25.4%42.4%32.9%
5 Year17.6%17.6%16.1%1.6%84.2%63.5%

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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TBBK ($9.21) is trading below our estimate of fair value ($23.19)

Significantly Below Fair Value: TBBK is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TBBK is good value based on its PE Ratio (9.3x) compared to the US Banks industry average (10x).

PE vs Market: TBBK is good value based on its PE Ratio (9.3x) compared to the US market (19x).


Price to Earnings Growth Ratio

PEG Ratio: TBBK is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: TBBK is overvalued based on its PB Ratio (1x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

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

23.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TBBK's forecast earnings growth (23.9% per year) is above the savings rate (2.2%).

Earnings vs Market: TBBK's earnings (23.9% per year) are forecast to grow faster than the US market (22.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TBBK's revenue is expected to decline over the next 3 years (-7.6% per year).

High Growth Revenue: TBBK's revenue is forecast to decline over the next 3 years (-7.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TBBK's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Bancorp performed over the past 5 years?

54.2%

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 (22.7%) are lower than last year (33.6%).


Past Earnings Growth Analysis

Earnings Trend: TBBK's earnings have grown significantly by 54.2% 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 (-40.3%) over the past year, making it difficult to compare to the Banks industry average (-3%).


Return on Equity

High ROE: TBBK's Return on Equity (10.6%) is considered low.


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


Financial Institutions Analysis

Asset Level: TBBK's Assets to Equity ratio (11.7x) is moderate.

Allowance for Bad Loans: TBBK has a sufficient allowance for bad loans (142%).

Low Risk Liabilities: 98% of TBBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: TBBK has an appropriate level of Loans to Assets ratio (37%).

Low Risk Deposits: TBBK's Loans to Deposits ratio (42%) is appropriate.

Level of Bad Loans: TBBK has an appropriate level of bad loans (0.4%).


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Damian Kozlowski (55 yo)

4.42yrs

Tenure

US$2,365,476

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 ($USD2.37M) is about average for companies of similar size in the US market ($USD1.93M).

Compensation vs Earnings: Damian's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Daniel Cohen
Chairman & Executive VP21.75yrsUS$700.00k0.71%
$ 3.7m
Damian Kozlowski
CEO, President & Director4.42yrsUS$2.37m0.58%
$ 3.1m
Paul Frenkiel
Executive VP of Strategy11.08yrsUS$665.06k0.15%
$ 770.0k
Gregor Garry
Executive VP & COO1.25yrsUS$529.56k0.034%
$ 178.7k
Thomas Pareigat
Executive VP & General Counsel9.67yrsUS$715.78k0.043%
$ 225.1k
Matthew Wallace
Executive VP & Chief Information Officer3.25yrsno data0.019%
$ 98.2k
Andres Viroslav
Director of Investor Relationsno datano datano data
Michael Althouse
MD & Chief Compliance Officer0.83yrno datano data
Rob Tacey
Director of Public Relationsno datano datano data
Rachel Weiss
Vice President of Communications Managerno datano datano data
Maria Wainwright
Executive VP & Chief Marketing Officer1.58yrsno data0.037%
$ 195.8k
Jennifer Terry
Executive VP & Chief Human Resources Officer2.42yrsno data0.0023%
$ 12.0k

2.8yrs

Average Tenure

55yo

Average Age

Experienced Management: TBBK's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Daniel Cohen
Chairman & Executive VP21.75yrsUS$700.00k0.71%
$ 3.7m
Damian Kozlowski
CEO, President & Director4.42yrsUS$2.37m0.58%
$ 3.1m
James McEntee
Independent Director20.08yrsUS$169.30k0.25%
$ 1.3m
Michael Bradley
Independent Lead Directorno dataUS$182.80k0.14%
$ 755.2k
William Lamb
Independent Director16.75yrsUS$151.30k0.33%
$ 1.7m
John Eggemeyer
Independent Director4.17yrsUS$148.80kno data
Shivan Govindan
Non-Voting Observer4.17yrsno datano data
Hersh Kozlov
Independent Director6.75yrsUS$155.80k0.15%
$ 782.9k
Mei-Mei Tuan
Independent Director7.25yrsUS$160.30k0.066%
$ 350.0k
Matthew Cohn
Independent Director21.75yrsUS$152.80k0.19%
$ 995.3k
Walter Beach
Independent Director21.75yrsUS$156.30k0.064%
$ 340.8k
John Chrystal
Independent Vice Chairman3.5yrsUS$168.80k0.53%
$ 2.8m

7.3yrs

Average Tenure

58.5yo

Average Age

Experienced Board: TBBK's board of directors are considered experienced (7.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TBBK insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

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$529.491m
  • Shares outstanding: 57.49m
  • Website: https://www.thebancorp.com

Number of Employees


Location

  • The Bancorp, Inc.
  • 409 Silverside Road
  • Suite 105
  • 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 Analysis2020/10/21 00:17
End of Day Share Price2020/10/20 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.