Bancorp (NASDAQ:TBBK) Price Target Raised to $72.00 at Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $66.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 15.41% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler boosted their price target on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Raymond James reissued an “outperform” rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a report on Monday. Finally, StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th.

Bancorp Stock Performance

Shares of TBBK traded up $1.33 during trading hours on Monday, hitting $62.39. The stock had a trading volume of 302,559 shares, compared to its average volume of 442,084. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The firm has a 50-day moving average price of $55.17 and a 200 day moving average price of $52.89. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $64.53. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 14.49 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. As a group, research analysts anticipate that Bancorp will post 5.25 EPS for the current year.

Insider Transactions at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction 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 $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

A number of large investors have recently modified their holdings of TBBK. Geode Capital Management LLC grew its holdings in shares of Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after purchasing an additional 6,459 shares during the period. Franklin Resources Inc. grew its holdings in shares of Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after purchasing an additional 144,867 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after purchasing an additional 219,020 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Bancorp by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock valued at $16,032,000 after purchasing an additional 9,748 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after purchasing an additional 56,959 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

About Bancorp

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.