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

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

Several other equities analysts have also recently commented on TBBK. Piper Sandler upped their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price target (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Bancorp Price Performance

NASDAQ:TBBK opened at $58.83 on Monday. The stock has a market cap of $2.82 billion, a P/E ratio of 14.84 and a beta of 1.46. Bancorp has a one year low of $29.92 and a one year high of $61.17. The company has a fifty day moving average price of $53.88 and a 200 day moving average price of $46.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85.

Bancorp (NASDAQ:TBBK) last released 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). The company had revenue of $125.84 million for 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 in the previous year, the company earned $0.92 earnings per share. Analysts anticipate that Bancorp will post 4.3 earnings per share for the current year.

Insider Buying and Selling at Bancorp

In other Bancorp news, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This represents a 11.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The stock was 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 in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently added to or reduced their stakes in TBBK. State Board of Administration of Florida Retirement System lifted its holdings in Bancorp by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,703 shares of the bank’s stock valued at $525,000 after buying an additional 550 shares during the period. Vanguard Group Inc. grew its position in Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock valued at $121,225,000 after purchasing an additional 16,482 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Bancorp by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after purchasing an additional 302 shares in the last quarter. Quadrature Capital Ltd bought a new position in Bancorp in the first quarter valued at $785,000. Finally, Lazard Asset Management LLC grew its position in Bancorp by 51.5% in the first quarter. Lazard Asset Management LLC now owns 15,296 shares of the bank’s stock valued at $511,000 after purchasing an additional 5,201 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

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.