Bancorp (NASDAQ:TBBK) Trading 10.2% Higher – Time to Buy?

Shares of The Bancorp, Inc. (NASDAQ:TBBK) were up 10.2% during mid-day trading on Tuesday . The stock traded as high as $44.62 and last traded at $45.11. Approximately 132,808 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 587,310 shares. The stock had previously closed at $40.93.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TBBK. Piper Sandler increased their price target on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods upped their price objective on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd.

Bancorp Price Performance

The firm has a market capitalization of $2.06 billion, a P/E ratio of 9.99 and a beta of 1.26. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $54.03 and a 200-day moving average price of $54.43.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. On average, analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Investors Weigh In On Bancorp

Several institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock worth $40,000 after purchasing an additional 489 shares during the period. R Squared Ltd purchased a new stake in shares of Bancorp in the fourth quarter worth approximately $45,000. National Bank of Canada FI bought a new stake in shares of Bancorp during the 3rd quarter worth approximately $77,000. Parkside Financial Bank & Trust boosted its holdings in Bancorp by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock valued at $79,000 after acquiring an additional 424 shares during the period. Finally, KBC Group NV grew its position in Bancorp by 40.9% in the 4th quarter. KBC Group NV now owns 2,137 shares of the bank’s stock valued at $112,000 after acquiring an additional 620 shares during the last quarter. 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.