Bancorp (NASDAQ:TBBK) Earns Outperform Rating from Raymond James

Bancorp (NASDAQ:TBBK)‘s stock had its “outperform” rating reissued by equities research analysts at Raymond James in a research report issued on Monday,Benzinga reports. They presently have a $67.00 price target on the bank’s stock, up from their prior price target of $60.00. Raymond James’ price target would suggest a potential upside of 7.48% from the stock’s current price.

A number of other equities research analysts also recently issued reports on TBBK. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, January 12th. Piper Sandler lifted their price objective on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd.

Bancorp Price Performance

Shares of TBBK opened at $62.34 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $55.25 and its two-hundred day moving average is $53.08. Bancorp has a twelve month low of $29.92 and a twelve month high of $64.53. The firm has a market capitalization of $2.99 billion, a PE ratio of 14.50 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results 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 return on equity of 27.33% and a net margin of 30.97%. Research analysts anticipate that Bancorp will post 5.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Bancorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock valued at $1,056,000 after acquiring an additional 234 shares in the last quarter. GAMMA Investing LLC boosted its stake in Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after purchasing an additional 327 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Bancorp by 24.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,800 shares of the bank’s stock worth $1,593,000 after buying an additional 5,800 shares in the last quarter. Blue Trust Inc. lifted its holdings in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Bancorp by 55.9% in the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock worth $2,690,000 after purchasing an additional 18,027 shares in the last quarter. 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.