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

Bancorp (NASDAQ:TBBK) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Separately, Piper Sandler upped their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday.

Bancorp Trading Up 1.0 %

TBBK stock opened at $54.52 on Friday. Bancorp has a 52 week low of $29.92 and a 52 week high of $61.17. The company has a market capitalization of $2.61 billion, a PE ratio of 13.77 and a beta of 1.48. The company’s 50-day simple moving average is $55.03 and its 200 day simple moving average is $49.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analyst estimates 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 earned $0.92 EPS. As a group, sell-side analysts anticipate that Bancorp will post 4.3 earnings per share for the current year.

Insider Activity at Bancorp

In related news, CMO Maria Wainwright sold 11,357 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was 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 of the company’s stock, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction dated 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. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last three months. 5.20% of the stock is owned by insiders.

Institutional Trading of Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. Point72 DIFC Ltd bought a new position in Bancorp in the 3rd quarter valued at approximately $54,000. GAMMA Investing LLC boosted its position in Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after buying an additional 327 shares during the period. Advisors Asset Management Inc. grew its holdings in Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after acquiring an additional 741 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in Bancorp in the 3rd quarter valued at approximately $77,000. Institutional investors and hedge funds 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.