Tiger Brokers

BUZZ-US lender Bancorp ticks up after boosting share buyback program

Reuters
Jul 08
BUZZ-US lender Bancorp ticks up after boosting share buyback program 

** Regional lender The Bancorp's TBBK.O shares rise 0.6% to $59.89 premarket

** TBBK late Monday announced that it had boosted its existing share repurchase program by $500 million through year-end 2026

** Bank has increased its buyback capacity by $300 million in H2 2025 and $200 million for 2026

** TBBK plans to fund buyback with cash on hand and through refinancing of $100 million of maturing debt with $200 million of new debt

** Raymond James says TBBK will be aggresive in utilizing its new authorization, especially given last week's announcement that pending sale of Aubrey apartment complex was terminated

** 2 of 3 brokerages rate stock "buy" and 1 "hold"; median PT $65 - data compiled by LSEG

** As of last close, TBBK stock up 13.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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