Raymond James Financial, Inc. Upgrades The Bancorp, Inc. (TBBK) to Outperform

Raymond James Financial, Inc. upgraded shares of The Bancorp, Inc. (NASDAQ:TBBK) from a market perform rating to an outperform rating in a report published on Monday, July 31st, Marketbeat reports.

Several other brokerages have also recently weighed in on TBBK. UBS AG raised The Bancorp from a market perform rating to an outperform rating in a report on Monday, July 31st. Zacks Investment Research cut The Bancorp from a buy rating to a hold rating in a report on Tuesday, July 4th. ValuEngine raised The Bancorp from a sell rating to a hold rating in a report on Wednesday, June 28th. Piper Jaffray Companies reissued a hold rating and set a $6.50 price objective on shares of The Bancorp in a report on Friday, July 14th. Finally, TheStreet raised The Bancorp from a d+ rating to a c- rating in a report on Tuesday, June 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $7.75.

Shares of The Bancorp (NASDAQ:TBBK) traded down 1.08% during midday trading on Monday, reaching $7.36. 221,858 shares of the company traded hands. The Bancorp has a 12 month low of $4.41 and a 12 month high of $8.20. The firm’s market capitalization is $410.37 million. The company has a 50 day moving average of $7.62 and a 200 day moving average of $6.17.

The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm had revenue of $45.39 million during the quarter, compared to analysts’ expectations of $42.40 million. The Bancorp had a negative return on equity of 4.27% and a negative net margin of 16.27%. On average, equities research analysts predict that The Bancorp will post $0.48 earnings per share for the current fiscal year.

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In related news, CFO Frenkiel Paul purchased 22,498 shares of the stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $6.56 per share, with a total value of $147,586.88. Following the purchase, the chief financial officer now directly owns 42,498 shares in the company, valued at approximately $278,786.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter T. Beach sold 106,784 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $7.74, for a total value of $826,508.16. Following the completion of the sale, the director now directly owns 122,640 shares of the company’s stock, valued at $949,233.60. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 104,498 shares of company stock valued at $687,987 and sold 286,973 shares valued at $1,935,818. Corporate insiders own 12.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Frontier Capital Management Co. LLC acquired a new position in shares of The Bancorp during the second quarter valued at about $12,162,000. Second Curve Capital LLC raised its position in shares of The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock valued at $15,991,000 after buying an additional 735,000 shares in the last quarter. Signia Capital Management LLC acquired a new position in shares of The Bancorp during the first quarter valued at about $3,122,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of The Bancorp during the second quarter valued at about $3,063,000. Finally, Dimensional Fund Advisors LP raised its position in shares of The Bancorp by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,304,844 shares of the bank’s stock valued at $18,116,000 after buying an additional 313,419 shares in the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.

About The Bancorp

The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).

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