The Bancorp, Inc. (TBBK)
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.
The investigation concerns whether Bancorp has violated federal securities laws.
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. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]