Bancorp (NASDAQ:TBBK) Trading 3.5% Higher – Here’s What Happened

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price traded up 3.5% on Friday . The stock traded as high as $54.75 and last traded at $54.65. 28,025 shares traded hands during trading, a decline of 95% from the average session volume of 620,383 shares. The stock had previously closed at $52.79.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th.

Bancorp Price Performance

The firm has a fifty day moving average of $50.39 and a 200 day moving average of $41.30. The company has a market capitalization of $2.70 billion, a P/E ratio of 14.36 and a beta of 1.45. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The business had revenue of $124.52 million during the quarter, compared to the consensus estimate of $127.45 million. On average, equities research analysts anticipate that The Bancorp, Inc. will post 4.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Entropy Technologies LP boosted its position in Bancorp by 256.2% in the first quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock worth $782,000 after purchasing an additional 16,812 shares during the last quarter. Jane Street Group LLC boosted its position in Bancorp by 129.0% in the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after purchasing an additional 70,361 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in Bancorp in the first quarter worth about $1,008,000. BNP Paribas Financial Markets boosted its position in Bancorp by 51.6% in the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock worth $2,404,000 after purchasing an additional 24,453 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Bancorp by 71.1% in the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after purchasing an additional 164,855 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.