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

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

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

Bancorp Price Performance

Shares of NASDAQ TBBK traded up $0.93 during midday trading on Friday, reaching $55.17. 413,454 shares of the company traded hands, compared to its average volume of 629,759. The firm has a market cap of $2.64 billion, a PE ratio of 13.93 and a beta of 1.46. Bancorp has a 12 month low of $29.92 and a 12 month high of $59.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The stock’s 50-day simple moving average is $52.95 and its 200-day simple moving average is $44.97.

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

Insider Buying and Selling

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp 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 transaction, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Cohn acquired 545 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the transaction, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 over the last 90 days. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock valued at $121,225,000 after purchasing an additional 16,482 shares during the period. American Century Companies Inc. boosted its holdings in shares of Bancorp by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after acquiring an additional 70,178 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after buying an additional 6,459 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Bancorp by 11.6% during the second quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after purchasing an additional 46,115 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after purchasing an additional 25,731 shares during the last quarter. Hedge funds and other institutional investors 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.