Bancorp (NASDAQ:TBBK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a report published on Friday morning.

A number of other equities analysts have also commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 price objective (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

Bancorp Stock Up 1.7 %

Shares of NASDAQ TBBK opened at $55.17 on Friday. The company has a 50 day simple moving average of $52.95 and a 200 day simple moving average of $45.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. Bancorp has a 1 year low of $29.92 and a 1 year high of $59.46. The firm has a market cap of $2.64 billion, a PE ratio of 13.93 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter last year, the firm posted $0.92 EPS. On average, research analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Activity

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Cohn acquired 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 26,983 shares of company stock worth $1,345,366 in the last quarter. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after acquiring an additional 291 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Bancorp in the third quarter valued at about $54,000. Advisors Asset Management Inc. boosted its holdings in Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in Bancorp in the 3rd quarter worth about $77,000. 96.22% of the stock is owned by institutional investors.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.