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The Bancorp , Inc. (NASDAQ:TBBK) announced Monday that its Board of Directors has authorized an increase in the company’s share repurchase program, raising the capacity to $300 million for the third and fourth quarters of 2025 and $200 million for 2026. This brings the total authorized repurchases to $500 million through the end of 2026.
According to a statement in the company’s SEC filing, repurchases may be conducted on the open market, through privately negotiated transactions, or by other means, depending on market conditions and other factors. The company is not obligated to repurchase any specific amount of its common stock, and the plan may be suspended or terminated at any time.
The Bancorp stated that it expects to fund the repurchase plan with available cash and by refinancing $100 million of maturing senior unsecured debt with $200 million in new senior unsecured debt, subject to regulatory approval.
The timing and actual number of shares repurchased under the program will depend on factors such as share price, market conditions, and alternative investment opportunities, according to the filing.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, The Bancorp reported its Q1 2025 earnings, revealing earnings per share (EPS) of $1.19, slightly below the forecast of $1.21. However, the company exceeded revenue expectations, posting $175.38 million against a forecast of $144.55 million. The Bancorp also experienced a substantial 17% year-over-year growth in loan balances. In a separate development, the company announced the termination of a sale agreement for its largest OREO property, the Aubrey apartment complex in Houston, Texas. The purchaser, a revenue-less biotech firm, forfeited $3 million in earnest money deposits and incurred $2.4 million in rehabilitation costs. Analysts from Raymond (NSE:RYMD) James and Piper Sandler have reiterated their positive ratings for The Bancorp, with price targets of $57.00 and $68.00, respectively. Keefe, Bruyette & Woods also maintained an Outperform rating with a $70.00 price target, despite expressing caution about potential credit issues in the REBL portfolio. Additionally, Piper Sandler highlighted The Bancorp’s strong fintech positioning, expecting significant long-term growth potential.
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