Bancorp (NASDAQ:TBBK) Sets New 1-Year High – Still a Buy?

The Bancorp, Inc. (NASDAQ:TBBK) shares hit a new 52-week high on Saturday . The company traded as high as $64.53 and last traded at $61.06, with a volume of 1701726 shares changing hands. The stock had previously closed at $57.64.

Analyst Upgrades and Downgrades

TBBK has been the topic of a number of research reports. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, January 12th. Piper Sandler lifted their price target on shares of 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

The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.42 and a beta of 1.49. The company’s fifty day simple moving average is $55.17 and its 200 day simple moving average is $52.89. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. On average, equities research analysts expect that The Bancorp, Inc. will post 4.28 earnings per share for the current year.

Insider Transactions at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares in the company, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. JPMorgan Chase & Co. increased its stake in shares of Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after acquiring an additional 219,020 shares in the last quarter. Franklin Resources Inc. increased its stake in Bancorp by 18.6% during the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after purchasing an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Bancorp during the 3rd quarter worth $6,100,000. Segall Bryant & Hamill LLC boosted its holdings in Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after acquiring an additional 70,768 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Bancorp by 23.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after acquiring an additional 56,959 shares during the last quarter. 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.