Bancorp’s (TBBK) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Bancorp (NASDAQ:TBBK) in a research report report published on Tuesday morning, Benzinga reports. Piper Sandler currently has a $55.00 price target on the bank’s stock.

Several other brokerages also recently commented on TBBK. StockNews.com upgraded shares of Bancorp from a sell rating to a hold rating in a report on Monday, April 29th. Keefe, Bruyette & Woods dropped their price objective on Bancorp from $52.00 to $46.00 and set an outperform rating on the stock in a research note on Friday, April 5th.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $38.57 on Tuesday. The business’s 50-day simple moving average is $33.39 and its 200-day simple moving average is $36.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. Bancorp has a 52 week low of $29.92 and a 52 week high of $47.11. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 10.48 and a beta of 1.47.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Friday, April 26th. The bank reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. The company had revenue of $123.80 million for the quarter, compared to the consensus estimate of $126.86 million. During the same quarter last year, the company posted $0.88 earnings per share. As a group, equities research analysts expect that Bancorp will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total value of $362,218.08. Following the sale, the executive vice president now directly owns 15,262 shares in the company, valued at approximately $491,131.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bancorp news, Director Cheryl Creuzot sold 766 shares of Bancorp stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the sale, the director now owns 7,638 shares in the company, valued at $249,304.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the transaction, the executive vice president now owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,706 shares of company stock valued at $54,962. 5.20% of the stock is owned by company insiders.

Institutional Trading of Bancorp

Institutional investors have recently made changes to their positions in the business. Moody Aldrich Partners LLC acquired a new stake in Bancorp during the fourth quarter valued at approximately $7,184,000. Principal Financial Group Inc. boosted its stake in Bancorp by 21.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock valued at $39,984,000 after buying an additional 184,647 shares in the last quarter. American Century Companies Inc. grew its position in Bancorp by 21.9% in the third quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after acquiring an additional 175,854 shares during the period. Jupiter Asset Management Ltd. raised its stake in Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after acquiring an additional 164,855 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Bancorp by 89.6% during the fourth quarter. Whittier Trust Co. now owns 235,965 shares of the bank’s stock valued at $9,099,000 after acquiring an additional 111,497 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.