StockNews.com Upgrades Bancorp (NASDAQ:TBBK) to Hold

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

TBBK has been the subject of several other research reports. Piper Sandler lifted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

Bancorp Trading Up 1.7 %

Shares of TBBK stock opened at $55.17 on Friday. Bancorp has a 12-month low of $29.92 and a 12-month high of $59.46. The company has a market capitalization of $2.64 billion, a PE ratio of 13.93 and a beta of 1.46. The firm has a 50 day moving average price of $52.95 and a two-hundred day moving average price of $45.07. 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 results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, analysts predict that Bancorp will post 4.3 earnings per share for the current year.

Insider Activity at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp 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 transaction, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Cohn acquired 545 shares of the stock in a transaction on Tuesday, October 29th. The shares were purchased at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the transaction, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in 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 acquiring an additional 6,459 shares in the last quarter. Barclays PLC grew its holdings in shares of Bancorp by 34.1% during the 3rd quarter. Barclays PLC now owns 140,844 shares of the bank’s stock valued at $7,536,000 after purchasing an additional 35,777 shares during the last quarter. National Bank of Canada FI acquired a new position in Bancorp during the 3rd quarter worth approximately $77,000. Weiss Asset Management LP bought a new position in Bancorp in the 3rd quarter valued at approximately $1,833,000. Finally, Stifel Financial Corp acquired a new stake in Bancorp in the third quarter valued at approximately $729,000. 96.22% of the stock is currently owned by 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.