Shares of Bancorp Inc (NASDAQ:TBBK) have received a consensus rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.25.
Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Raymond James Financial upgraded shares of Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $11.00 to $13.00 in a research report on Friday, January 26th. Sandler O’Neill reiterated a “hold” rating and set a $11.00 price objective on shares of Bancorp in a research report on Friday, January 12th. Zacks Investment Research lowered shares of Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $9.00 target price on shares of Bancorp in a research note on Friday, November 10th.
In related news, Director Daniel G. Cohen sold 250,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $9.53, for a total transaction of $2,382,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Chrystal sold 62,285 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $9.65, for a total transaction of $601,050.25. The disclosure for this sale can be found here. 12.40% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. bought a new position in shares of Bancorp in the fourth quarter valued at $2,470,000. Algert Global LLC bought a new position in shares of Bancorp in the fourth quarter valued at $233,000. Frontier Capital Management Co. LLC lifted its stake in shares of Bancorp by 31.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock valued at $27,843,000 after buying an additional 681,608 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Bancorp by 24.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 228,471 shares of the bank’s stock valued at $2,258,000 after buying an additional 44,972 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Bancorp in the third quarter valued at $248,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
Bancorp (TBBK) traded down $0.18 on Friday, hitting $10.42. 148,329 shares of the stock traded hands, compared to its average volume of 324,958. Bancorp has a 52 week low of $4.41 and a 52 week high of $11.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.50 and a current ratio of 0.60. The firm has a market capitalization of $592.11, a PE ratio of 27.18 and a beta of 1.23.
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Bancorp Company Profile
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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