US lender Bancorp plunges after missing Q3 profit estimates

U.S. lender Bancorp's TBBK.O shares plunge 16% to $64.82

Late Thursday, TBBK reported a third-quarter profit below expectations as credit trends softened

TBBK also lowered 2025 EPS forecast to $5.10 from $5.25, due to lower lending balances and higher credit provision tied to a previously identified trucking loan

Brokerage KBW says real estate bridge loans (REBLs) credit was mixed due to higher past dues and the indication the scheduled sale of a $26.9 million non-accrual did not close

"The updates on the REBL book leave some unanswered questions about the credit content," KBW says

"We had hoped to have seen a more pronounced improvement in REBL portfolio credit metrics" - Raymond James

Two of three brokerages rate the stock "buy" or higher and one "hold"; median PT $76 - data compiled by LSEG

As of last close, TBBK stock up 46.7% YTD