Bancorp (NASDAQ:TBBK) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research report sent to investors on Monday.

A number of other brokerages have also recently issued reports on TBBK. Piper Sandler lifted their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Bancorp Stock Up 5.1 %

Shares of TBBK stock opened at $60.36 on Monday. The stock has a market cap of $2.89 billion, a P/E ratio of 15.24 and a beta of 1.46. The stock has a fifty day moving average price of $53.70 and a 200 day moving average price of $46.00. Bancorp has a one year low of $29.92 and a one year high of $61.17. 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 (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same period in the previous year, the business posted $0.92 earnings per share. Analysts predict that Bancorp will post 4.3 earnings per share for the current year.

Insider Activity at Bancorp

In related news, EVP Matthew J. Wallace sold 10,160 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the sale, the executive vice president now directly owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 over the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Trading of Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after purchasing an additional 291 shares during the period. Blue Trust Inc. increased its position in Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Bancorp during the 3rd quarter worth about $54,000. EverSource Wealth Advisors LLC grew its position in shares of Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after buying an additional 1,272 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

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.