|Over a week ago|
The Bancorp announces new stock buyback program for up to $40M » 16:4011/0511/05/20
The Bancorp announced…
The Bancorp announced that its board of directors has approved a new stock repurchase program to repurchase up to $10.0 million in value of shares of the Company's common stock in each fiscal quarter of 2021, for a maximum amount of $40.0 million of shares of common stock repurchased on or prior to December 31, 2021.
The Bancorp sees FY21 $1.65-$1.70, consensus $1.50 16:1210/2910/29/20
The Bancorp sees FY20 EPS of at least $1.25, consensus $1.30 16:1110/2910/29/20
The Bancorp reports Q3 EPS 40c, consensus 37c » 16:1010/2910/29/20
Return on assets and…
Return on assets and equity for the quarter ended September 30, 2020 amounted to 1.5% and 17%, respectively, compared to 1.3% and 16% for the quarter ended June 30, 2020. Net interest margin amounted to 3.37% for the quarter ended September 30, 2020, compared to 3.35% for the quarter ended September 30, 2019 and 3.53% for the quarter ended June 30, 2020. As of September 30, 2020, The Bancorp originated approximately 1,250 Paycheck Protection Program loans, totaling approximately $208 million, which it expects will generate approximately $5.5 million of fees and interest. Book value per common share at September 30, 2020 was $9.71 per share compared to $8.52 at September 30, 2019, an increase of 14%, primarily as a result of retained earnings per share.
|Over a quarter ago|
The Bancorp backs FY20 EPS view of $1.25, consensus $1.16 » 16:3307/3007/30/20
Damian Kozlowski, The…
Damian Kozlowski, The Bancorp's CEO, said, "We have continued to experience momentum in our core earnings driven by higher interest income with falling interest expense, increased loan balances and higher payment volumes. In the second quarter of 2020, the Bancorp earned 35 cents a share from both increased fee and spread revenue. While the pandemic continues to be a significant source of market uncertainty, we have been able to achieve better revenue productivity and operating efficiency during this time, while also making investments in our platform. Our earnings guidance for full year 2020 continues to be $1.25 per share."
The Bancorp reports Q2 EPS 35c, consensus 28c » 16:3207/3007/30/20
The Bancorp earned net…
The Bancorp earned net income of $20.3M from continuing operations, and 35c diluted earnings per share from combined continuing and discontinued operations. Return on assets and equity for the quarter ended June 30, 2020 increased to 1.3% and 15.6%, respectively, compared to 1.0% and 10.2% for the quarter ended June 30, 2019. Net interest margin increased to 3.53% for the quarter ended June 30, 2020, compared to 3.41% for the quarter ended June 30, 2019 and 3.34% for the quarter ended March 31, 2020. Net interest income increased 45% to $50.2 million for the quarter ended June 30, 2020, compared to $34.5 million for the quarter ended June 30, 2019. Average loans and leases, including loans held for sale, increased 76% to $3.93 billion for the quarter ended June 30, 2020, compared to $2.23 billion for the quarter ended June 30, 2019.
The Bancorp files $250M mixed securities shelf 16:0406/2906/29/20
Chairman of The Bancorp Daniel Cohen sells over $537K in company shares » 16:2306/1506/15/20
Chairman of The Bancorp…
Chairman of The Bancorp Daniel Cohen disclosed in a filing that he had sold 60,000 shares of company stock on June 12 for $8.96 per share. The total transaction value of the sale was $537,474.
The Bancorp director Matthew Cohn purchases 20K shares in company stock » 16:4105/2105/21/20
The Bancorp director…
The Bancorp director Matthew Cohn disclosed in a filing that he had purchased 20,000 shares of company stock at an average price of $6.77 per share on May 20. The total transaction value of the sale was $135,400.
The Bancorp announces release from constent order » 09:2405/1805/18/20
The Bancorp announced…
The Bancorp announced that the Federal Deposit Insurance Corporation, or FDIC, the prudential regulator of The Bancorp Bank, has terminated the 2014 consent order in reference to the Bank's Bank Secrecy Act, Anti-Money Laundering and Sanctions programs. The State of Delaware's Office of State Bank Commissioner concurred with the FDIC in taking this action. The Bancorp has made significant investments to create a sustainable AML compliance management ecosystem focused on technology, people, and processes. The core capabilities of the Bank's platform is tailored to the unique risks and opportunities in the sponsor bank arena. As a result of the termination of the consent order, any restrictions related to growth or expansionary activities within The Bancorp's Payments businesses are immediately removed.