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

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

Separately, Piper Sandler lifted their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

Bancorp Price Performance

TBBK opened at $53.69 on Friday. Bancorp has a 1 year low of $29.92 and a 1 year high of $61.17. The company’s 50 day simple moving average is $54.75 and its 200 day simple moving average is $50.49. The stock has a market capitalization of $2.57 billion, a PE ratio of 13.56 and a beta of 1.49. 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 quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same quarter last year, the business earned $0.92 EPS. As a group, sell-side analysts expect that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling

In other news, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the transaction, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. The trade was a 11.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,983 shares of company stock valued at $1,345,366. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. American Century Companies Inc. boosted its holdings in Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after purchasing an additional 70,178 shares during the last quarter. 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 worth $72,914,000 after buying an additional 6,459 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after buying an additional 144,867 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Bancorp by 11.6% in the second quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after buying an additional 46,115 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after acquiring an additional 25,731 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

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.