Bancorp Q3 net income $50.1M ($0.92 EPS), initiates 2024 EPS guidance of $4.25; buyback increased 4x

Bancorp, Inc.

2023-Q3 EPS reported $2.68

Q3 net income $50.1M ($0.92 diluted EPS) vs $30.6M ($0.54) a year ago, up 70% YoY.
Net interest margin widened to 5.07% from 3.69% last year; net interest income up 37% to $88.9M.
Gross dollar volume from prepaid/debit cards increased 17% to $32.97B.
CEO announced preliminary 2024 EPS guidance of $4.25, representing 18% growth over 2023 guidance.
Planned share buyback in 2024 increased to $200M ($50M/qtr) from $100M; Q3 repurchased 685k shares at $36.47 avg.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bancorp, Inc. reported the quarter ended September 30, 2023 results: net income $50.1 million, EPS $0.92 per diluted share. Guidance initiated.

Period: the quarter ended September 30, 2023
Net income: $50.1 million
EPS: $0.92 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

The Bancorp reported net income of $50.1 million, or $0.92 per diluted share, for the quarter ended September 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bancorp, Inc. reported 2024 results: EPS $4.25 a share. Guidance initiated.

Period: 2024
EPS: $4.25 a share
Guidance: initiated
Result: guidance update

Exact text from the filing

We are initiating 2024 preliminary guidance of $4.25 a share without including the impact of share buybacks.

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Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0000950159-23-000270

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