Shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Free Report) have received an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $59.50.
Several equities analysts have recently weighed in on TBBK shares. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler started coverage on Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price target for the company. Wolfe Research set a $57.00 price target on Bancorp in a research report on Monday, February 9th. Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th.
Check Out Our Latest Stock Analysis on TBBK
Bancorp Price Performance
Bancorp (NASDAQ:TBBK – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The company had revenue of $132.50 million during the quarter, compared to analysts’ expectations of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. Equities research analysts anticipate that Bancorp will post 5.95 earnings per share for the current year.
Insider Activity
In related news, EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction on Friday, March 13th. The stock was sold at an average price of $53.18, for a total transaction of $239,310.00. Following the completion of the sale, the executive vice president owned 150,516 shares of the company’s stock, valued at approximately $8,004,440.88. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the sale, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at $1,502,506.08. This represents a 25.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 17,370 shares of company stock worth $1,014,778. 6.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Bancorp
Several large investors have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC boosted its stake in Bancorp by 8.4% during the first quarter. Arete Wealth Advisors LLC now owns 10,984 shares of the bank’s stock valued at $590,000 after buying an additional 850 shares during the period. Bank of America Corp DE boosted its stake in Bancorp by 104.5% during the first quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock valued at $22,922,000 after buying an additional 218,038 shares during the period. Edgestream Partners L.P. bought a new stake in Bancorp during the first quarter valued at $3,592,000. Janus Henderson Group PLC boosted its stake in Bancorp by 19.0% during the first quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock valued at $58,296,000 after buying an additional 172,925 shares during the period. Finally, Amundi boosted its stake in Bancorp by 46.1% during the first quarter. Amundi now owns 12,856 shares of the bank’s stock valued at $691,000 after buying an additional 4,059 shares during the period. Institutional investors own 96.22% of the company’s stock.
Bancorp Company Profile
The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.
The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.
Read More
- Five stocks we like better than Bancorp
- Abercrombie Rallies as Strong Q1 Earnings Extend Winning Streak
- TeraWulf Bets on Power Infrastructure to Lead AI Build-Out
- Amazon’s Alexa for Shopping Strengthens an Already Strong Bull Case
- Keysight: The AI and Defense Stock Seeing Big Price Target Boosts
Receive News & Ratings for Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
