Bancorp (NASDAQ:TBBK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bancorp (NASDAQ:TBBK) had its price target upped by Piper Sandler from $61.00 to $64.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 18.52% from the company’s previous close.

Separately, StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 19th.

Bancorp Stock Up 1.2 %

Shares of Bancorp stock opened at $54.00 on Monday. Bancorp has a twelve month low of $29.92 and a twelve month high of $61.17. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $55.12 and its 200 day moving average is $49.60. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 13.64 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same period in the previous year, the company earned $0.92 earnings per share. Research analysts anticipate that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling at Bancorp

In other news, Director Matthew Cohn acquired 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 over the last ninety days. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in TBBK. Nantahala Capital Management LLC purchased a new stake in shares of Bancorp during the 2nd quarter valued at about $12,757,000. Franklin Resources Inc. increased its stake in Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after acquiring an additional 144,867 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in Bancorp during the third quarter valued at approximately $6,100,000. Marshall Wace LLP lifted its stake in shares of Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after purchasing an additional 96,072 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after purchasing an additional 70,768 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

About Bancorp

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.