Core Viewpoint - The Bancorp, Inc. has filed an amended annual report revealing previously omitted critical information, raising investor concerns amid ongoing asset quality issues and a securities class action lawsuit [1][2]. Financial Disclosures - The amended annual report on Form 10-K/A was filed on April 7, 2025, revising financial statements and disclosures from the original report filed on March 3, 2025 [2]. - The original report was deemed unreliable, and neither the former auditor Grant Thornton LLP nor the current auditor Crowe LLP provided final approval for their audit opinions [2][5]. Legal Issues - A securities class action lawsuit, Linden v. The Bancorp, Inc., was filed following the March 4 disclosure, alleging false and misleading statements by the company [1][3]. - The lawsuit seeks to represent investors who purchased Bancorp securities between January 25, 2024, and March 4, 2025 [2]. Asset Quality Concerns - Culper Research issued a report on March 21, 2024, accusing Bancorp of misrepresenting the quality of its real estate bridge loan portfolio and under-reserving for potential loan losses [3]. - The company reported disappointing Q3 2024 results, attributing a $1.5 million after-tax reduction in net income to a new CECL factor affecting REBL loans [4]. Internal Control and Financial Reporting - The amended report indicated that the provision for credit losses for consumer fintech loans was revised from $19.6 million to $30.7 million [4]. - The company acknowledged that its internal control over financial reporting was not effective, contradicting earlier statements [4][5]. Investigations and Whistleblower Information - Hagens Berman is investigating the claims against Bancorp, focusing on whether the financial statements accurately reflected the loan portfolios and adhered to accounting standards [6][7]. - Whistleblowers with non-public information regarding Bancorp are encouraged to assist in the investigation, with potential rewards under the SEC Whistleblower program [7].

Highlights U.S. Bancorp demonstrated strong credit quality with improved consumer card delinquencies year over year, even amidst macroeconomic uncertainty. Management said it is strategically focused on its payments businesses and “money movement” capabilities as areas for future growth. U.S. Bancorp has presence with the affluent customer segment and is seeing steady consumer spending patterns. U.S. Bancorp’s first-quarter earnings results showed strong credit quality, as consumer card delinque ...

Group 1 - The article emphasizes a dividend-focused value investment strategy that prioritizes capital preservation and steady income growth [1] - The author shares insights from a diversified dividend stock portfolio, highlighting high-quality value stocks that provide meaningful growth and long-term safety [1] Group 2 - The author has a beneficial long position in USB shares, indicating a personal investment interest in the company [2] - The article is presented as a personal opinion and does not constitute professional investment or tax advice [3]

U.S. Bancorp’s (USB) first-quarter 2025 adjusted earnings per share (excluding the impacts of notable items) of $1.03 beat the Zacks Consensus Estimate of 99 cents. The bottom line increased 14.4% from the prior-year quarter.Results have benefited from lower expenses and higher non-interest income. Also, a rise in net interest income (NII) and strong capital position were tailwinds. However, a decline in deposits was concerning.Net income (GAAP basis) attributable to U.S. Bancorp was $1.72 billion, up 29.6% ...

Fifth Third Bancorp FITB will release its first-quarter financial results before the opening bell on Thursday, April 17. Analysts expect the bank to report quarterly earnings at 70 cents per share. Fifth Third Bancorp projects quarterly revenue of $2.16 billion, compared to $2.1 billion a year earlier, according to data from Benzinga Pro. On April 7, Baird analyst David George upgraded Fifth Third Bancorp from Neutral to Outperform. With the recent buzz around Fifth Third, some investors may also be eyeing ...

Considering buying USB stock? Here's what analysts think: Read This Next: U.S. Bancorp USB will release earnings results for the first quarter, before the opening bell on Wednesday, April 16. Analysts expect the Minneapolis, Minnesota-based company to report quarterly earnings at 98 cents per share, up from 78 cents per share in the year-ago period. U.S. Bancorp projects to report quarterly revenue at $6.91 billion, compared to $6.68 billion a year earlier, according to data from Benzinga Pro. On Monday, U. ...

Group 1 - The article suggests that despite concerns regarding tariffs, Unity Bancorp (NASDAQ: UNTY) presents a positive outlook for banks [1] - The investment strategy highlighted is a long-term, buy-and-hold approach, focusing on stocks that can deliver sustainable high-quality earnings, particularly in the dividend and income sectors [1]

RADNOR, Pa., April 15, 2025 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the District of Delaware against The Bancorp, Inc. (“Bancorp”) (NASDAQ: TBBK) on behalf of those who purchased or otherwise acquired Bancorp securities between January 25, 2024, and March 4, 2025, inclusive (the “Class Period”). The lead plaintiff deadline is May 16, 2025. CONTACT KESS ...

Core Insights - Northeast Community Bancorp, Inc. (NASDAQ: NECB) was recognized as one of the top bank stocks of 2024, with its share price increasing by 75% at one point in November of the previous year [1] Group 1 - The stock experienced a significant pullback after its peak performance [1] - The financial markets are viewed as efficient, with most stocks reflecting their real current value [1] - The best investment opportunities are often found in stocks that are less widely followed or do not accurately reflect market opportunities [1]

Analysts on Wall Street project that Fifth Third Bancorp (FITB) will announce quarterly earnings of $0.70 per share in its forthcoming report, representing a decline of 7.9% year over year. Revenues are projected to reach $2.14 billion, increasing 1.8% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 1.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial es ...