The Bancorp (TBBK) Tops Q1 EPS by 2c

The Bancorp (NASDAQ: TBBK) reported Q1 EPS of $0.23, $0.02 better than the analyst estimate of $0.21.

Damian Kozlowski, The Bancorp’s Chief Executive Officer, said, “We have continued to experience momentum in our core earnings despite the current COVID-19 developments. While the pandemic continues to be fast-developing and could be prolonged, we have evaluated the impact of lower interest rates and potential lower business volumes on our profitability for 2020. We believe that the previously announced $1.25 minimum earnings per share guidance for 2020 is still attainable, while $1.34 earnings per share has become less likely. Accordingly, the $1.25 earnings per share now constitutes our guidance for full year 2020. We have removed the range of earnings performance and made $1.25 our target. We have also provided additional tables and other disclosures in this press release related to credit exposures.”

For earnings history and earnings-related data on The Bancorp (TBBK) click here.

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