Bancorp (NASDAQ:TBBK) Lowered to Sell Rating by StockNews.com

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

Bancorp Trading Down 5.7 %

TBBK opened at $52.31 on Thursday. Bancorp has a one year low of $29.92 and a one year high of $61.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The business has a 50 day simple moving average of $55.31 and a two-hundred day simple moving average of $48.88. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.21 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to the consensus estimate 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 prior year, the company earned $0.92 EPS. Analysts predict that Bancorp will post 4.3 EPS for the current year.

Insider Activity at Bancorp

In related news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction that occurred on 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 $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Cohn purchased 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now owns 56,636 shares of the company’s stock, valued at $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC bought a new stake in Bancorp during the third quarter worth about $514,000. Victory Capital Management Inc. boosted its position in shares of Bancorp by 7.0% in the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after purchasing an additional 25,731 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Bancorp in the 2nd quarter worth approximately $391,000. Raymond James & Associates grew its stake 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 buying an additional 18,027 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Bancorp by 23.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after buying an additional 56,959 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.