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Sep 30, 2022
Bancorp Q3 2022 Earnings Report
Reported financial results for the third quarter of 2022.
Key Takeaways
The Bancorp reported revenue growth across its platform due to increased lending volumes and new payment partners. Preliminary guidance for 2023 is $3.20 per share, excluding the net impact of future share buybacks.
Revenue growth continues across the platform.
Lending volumes are steadily increasing.
New payment partners are added to the ecosystem.
Expansion of net interest margin and payment fees should support increased profitability in 2023.
Bancorp
Bancorp
Forward Guidance
The company issued preliminary guidance for 2023 of $3.20 per share excluding the net impact of future share buybacks but including the expected impact of rate increases based on fed funds futures and reiterated $2.25 to $2.30 guidance for 2022.
Positive Outlook
- Expects increased share repurchases to $25 million per quarter, or $100 million in 2023, from $15 million a quarter, or $60 million, in 2022.
- The $3.20 guidance for 2023 would represent approximately a 40% increase in earnings per share over 2022.
- The $3.20 guidance for 2023 would result in an ROE percentage in the mid-20s and an ROA above 2%.
- Revenue growth across our platform as lending volumes steadily increase
- New payment partners are added to our ecosystem.