NEW YORK CITY, NY / ACCESSWIRE / November 15, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of The Bancorp, Inc. ("Bancorp" or "the Company") (NASDAQ:TBBK). Investors who purchased Bancorp securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/TBBK.
Investigation Details
On October 24, 2024, Bancorp issued a press release announcing its financial results for the third quarter of 2024. Among other items, Bancorp reported GAAP earnings per share of $1.04, missing consensus estimates by $0.08. The Company attributed the disappointing results to the addition of "a new a new CECL factor . . . which increased the provision for credit losses and resulted in an after-tax reduction in net income of $1.5 million"; "[p]rior period interest income reversals on real estate bridge loans transferred to nonaccrual or modified, [which] resulted in an after-tax reduction in net income of $1.2 million"; and "[a] loss resulting from a transaction processing delay [which] increased non-interest expense and resulted in an after-tax reduction in net income of approximately $900,000." On this news, Bancorp's stock price fell $7.95 per share, or 14.47%, to close at $47.01 per share on October 25, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Bancorp securities, you can assist this investigation by visiting the firm's site: bgandg.com/TBBK. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC