Bancorp (NASDAQ:TBBK – Get Free Report) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.
A number of other research firms also recently weighed in on TBBK. Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Bancorp in a research report on Tuesday. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Bank of America reissued a “buy” rating on shares of Bancorp in a research report on Monday, July 20th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $79.00 price objective (up from $77.00) on shares of Bancorp in a research note on Monday, August 3rd. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 price objective (down from $86.00) on shares of Bancorp in a report on Thursday, September 17th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.88.
Get Our Latest Stock Report on TBBK
Bancorp Price Performance
Shares of TBBK opened at $47.34 on Tuesday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 8.32 and a beta of 1.20. Bancorp has a twelve month low of $45.08 and a twelve month high of $73.02. The company has a 50 day moving average of $52.41 and a 200-day moving average of $58.24. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.
Bancorp (NASDAQ:TBBK – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.47. The company had revenue of $135.89 million for the quarter, compared to the consensus estimate of $154.86 million. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. As a group, equities research analysts forecast that Bancorp will post 5.99 EPS for the current fiscal year.
Insider Activity
In related news, Director Matthew Cohn acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average price of $45.54 per share, for a total transaction of $45,540.00. Following the purchase, the director directly owned 63,111 shares in the company, valued at approximately $2,874,074.94. This trade represents a 1.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Bancorp
Large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Bancorp during the 2nd quarter worth about $25,000. Versant Capital Management Inc lifted its stake in Bancorp by 177.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,198 shares of the bank’s stock valued at $58,000 after purchasing an additional 766 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Bancorp by 840.4% in the 3rd quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,185 shares during the last quarter. Parallel Advisors LLC lifted its stake in Bancorp by 4,089.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Nykredit A S bought a new position in Bancorp during the second quarter worth about $167,000. Institutional investors and hedge funds own 96.22% of the company’s stock.
Bancorp Company Profile
The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.
The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.
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