Shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Free Report) have earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.50.
TBBK has been the topic of a number of recent analyst reports. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Keefe, Bruyette & Woods upgraded Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $72.00 to $77.00 in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th.
Bancorp Stock Up 1.5%
Bancorp (NASDAQ:TBBK – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The firm had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. Research analysts predict that Bancorp will post 5.95 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP Erika R. Caesar sold 4,470 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total transaction of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares of the company’s stock, valued at $1,982,006.40. This represents a 11.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total value of $506,016.00. Following the transaction, the chief marketing officer owned 24,942 shares of the company’s stock, valued at $1,502,506.08. The trade was a 25.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.00% of the company’s stock.
Institutional Investors Weigh In On Bancorp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBBK. Osaic Holdings Inc. boosted its position in Bancorp by 3.7% during the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock worth $318,000 after purchasing an additional 197 shares during the period. California State Teachers Retirement System raised its position in shares of Bancorp by 0.6% in the second quarter. California State Teachers Retirement System now owns 42,929 shares of the bank’s stock valued at $2,446,000 after purchasing an additional 253 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Bancorp by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock valued at $368,000 after purchasing an additional 267 shares during the period. Cerity Partners LLC lifted its stake in shares of Bancorp by 1.1% during the 4th quarter. Cerity Partners LLC now owns 27,518 shares of the bank’s stock valued at $1,858,000 after buying an additional 309 shares in the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Bancorp during the 4th quarter valued at approximately $27,000. 96.22% of the stock is currently owned by institutional investors.
About Bancorp
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.
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