On Mar 23, Zacks Investment Research upgraded
The Bancorp Inc.
) to a Zacks Rank #1 (Strong Buy).
META FINL GRP (CASH): Free Stock Analysis
FLAGSTAR BANCP (FBC): Free Stock Analysis
FIRST DEFIANCE (FDEF): Free Stock Analysis
BANCORP BNK/THE (TBBK): Free Stock Analysis
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Why the Upgrade?
The Bancorp has been witnessing rising earnings estimates based
on strong fourth quarter 2012 results. Moreover, this regional
bank delivered positive earnings surprises in 2 of the last 4
quarters with an average beat of 2.6%.
The Bancorp reported fourth-quarter results on Jan 23. Earnings
came in at 15 cents per share, outpacing the Zacks Consensus
Estimate by a penny and also coming ahead of the year-ago
earnings of 10 cents. Results were primarily aided by solid
top-line growth on the back of higher net interest and
non-interest income, partially offset by an increase in expenses.
Net interest income climbed 8.5% year over year to $22.1 million.
Further, non-interest income surged 52.6% to $7.4 million.
Non-interest expenses grew 22.0% year over year to $23.5 million.
Asset quality remained a mixed bag for The Bancorp.
Allowance for loan losses increased 11.4% from the prior-year
quarter to $30.0 million. Likewise, non-performing loans stood at
1.56% of total loans, up 32 basis points year over year.
However, non-performing assets stood at 0.92% of total loans,
down 5 basis points year over year
The Zacks Consensus Estimate for 2013 remained stable at 75 cents
over the last 60 days.
Other Stocks to Consider
While we prefer The Bancorp, other banks carrying a Zacks Rank #1
Meta Financial Group, Inc.
Flagstar Bancorp Inc.
First Defiance Financial Corp.