Bancorp (NASDAQ:TBBK) Upgraded at StockNews.com

Bancorp (NASDAQ:TBBK) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Bancorp Price Performance

TBBK opened at $55.18 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. Bancorp has a 1 year low of $29.92 and a 1 year high of $61.17. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 13.93 and a beta of 1.48. The stock’s 50 day simple moving average is $55.00 and its 200 day simple moving average is $48.05.

Bancorp (NASDAQ:TBBK) last posted its earnings results 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). The business had revenue of $125.84 million during 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 period in the previous year, the business earned $0.92 earnings per share. As a group, analysts predict that Bancorp will post 4.3 earnings per share for the current year.

Insider Buying and Selling at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the transaction, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value 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. This trade represents a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Bancorp

A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Bancorp during the third quarter valued at $300,000. Geode Capital Management LLC grew its position in shares of Bancorp by 0.5% during 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 in the last quarter. Barclays PLC increased its stake in Bancorp by 34.1% in the 3rd quarter. Barclays PLC now owns 140,844 shares of the bank’s stock worth $7,536,000 after acquiring an additional 35,777 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in Bancorp in the third quarter worth $77,000. 96.22% of the stock is currently owned by institutional investors.

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.