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

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

Several other equities analysts also recently weighed in on TBBK. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price target (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. Piper Sandler increased their price target on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

Bancorp Stock Performance

TBBK opened at $59.05 on Monday. Bancorp has a 52-week low of $29.92 and a 52-week high of $61.17. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.83 billion, a P/E ratio of 14.91 and a beta of 1.46. The firm’s 50-day moving average price is $54.14 and its 200-day moving average price is $46.46.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The company had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same quarter last year, the company earned $0.92 EPS. As a group, equities analysts anticipate that Bancorp will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in TBBK. Nantahala Capital Management LLC acquired a new stake in shares of Bancorp during the 2nd quarter worth approximately $12,757,000. Franklin Resources Inc. lifted its position in shares of Bancorp by 18.6% during the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after buying an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Bancorp during the 3rd quarter valued at approximately $6,100,000. Marshall Wace LLP lifted its position in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after buying an additional 96,072 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in shares of Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock valued at $12,739,000 after buying an additional 70,768 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

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.