Bancorp (NASDAQ:TBBK) Stock Rating Upgraded by StockNews.com

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

TBBK has been the topic of several other research reports. Raymond James restated an “outperform” rating and set a $67.00 target price (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Piper Sandler increased their price target on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

Bancorp Price Performance

TBBK stock opened at $51.58 on Thursday. Bancorp has a twelve month low of $29.92 and a twelve month high of $65.84. 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 company has a market capitalization of $2.48 billion, a P/E ratio of 12.00 and a beta of 1.59. The business has a 50 day simple moving average of $56.23 and a 200-day simple moving average of $54.44.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, equities analysts anticipate that Bancorp will post 5.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TBBK. Penserra Capital Management LLC bought a new stake in shares of Bancorp during the 3rd quarter worth $514,000. Lord Abbett & CO. LLC lifted its holdings in shares of 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 during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Bancorp in the third quarter worth approximately $2,080,000. Entropy Technologies LP increased its position in Bancorp by 175.4% during the third quarter. Entropy Technologies LP now owns 18,997 shares of the bank’s stock worth $1,016,000 after buying an additional 12,100 shares during the last quarter. Finally, JPMorgan Chase & Co. raised 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. Institutional investors 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.