Financial services company The Bancorp (NASDAQ: TBBK) will be reporting earnings tomorrow after the bell. Here’s what to expect.
The Bancorp missed analysts’ revenue expectations last quarter, reporting revenues of $161.4 million, down 8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ net interest income estimates and a slight miss of analysts’ tangible book value per share estimates.
Is The Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting The Bancorp’s revenue to grow 3.6% year on year, slowing from the 45.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. The Bancorp has missed Wall Street’s revenue estimates multiple 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. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Hilltop Holdings reported revenues up 7.5%, topping estimates by 3.4%. OFG Bancorp traded up 4.2% following the results while Hilltop Holdings was also up 3%.
Read our full analysis of OFG Bancorp’s results here and Hilltop Holdings’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 2.2% on average over the last month. The Bancorp is up 9.7% during the same time and is heading into earnings with an average analyst price target of $73.67 (compared to the current share price of $68.60).
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