Bancorp (NASDAQ:TBBK) Cut to “Sell” at StockNews.com

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

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

Bancorp Stock Performance

Bancorp stock opened at $50.30 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.41 billion, a P/E ratio of 12.70 and a beta of 1.49. The stock’s 50 day moving average is $54.96 and its 200 day moving average is $51.22. Bancorp has a twelve month low of $29.92 and a twelve month high of $61.17.

Bancorp (NASDAQ:TBBK) last issued 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). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, equities research analysts predict that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction 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 trade represents a 6.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Cohn bought 545 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the acquisition, the director now owns 56,636 shares in the company, valued at $2,838,029.96. This trade represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 in the last ninety days. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bancorp

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in Bancorp by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after buying an additional 70,178 shares in the last quarter. Geode Capital Management LLC increased its stake in Bancorp by 0.5% in the 3rd 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. increased its stake in Bancorp by 18.6% in the 3rd 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. JPMorgan Chase & Co. increased its stake in Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new stake in Bancorp in the 2nd quarter worth $12,757,000. Hedge funds and other institutional investors 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.