Bancorp (NASDAQ:TBBK) Upgraded at StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a report issued on Monday morning.

A number of other research analysts have also recently weighed in on TBBK. Piper Sandler lifted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price objective (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Trading Up 0.4 %

NASDAQ TBBK opened at $59.05 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market capitalization of $2.83 billion, a P/E ratio of 15.01 and a beta of 1.46. The firm’s 50-day moving average is $54.00 and its two-hundred day moving average is $46.37. Bancorp has a 12 month low of $29.92 and a 12 month high of $61.17.

Bancorp (NASDAQ:TBBK) last posted its 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 company had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter last year, the business posted $0.92 EPS. On average, sell-side analysts anticipate that Bancorp will post 4.3 earnings per share for the current year.

Insider Activity

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction 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. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,983 shares of company stock worth $1,345,366. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its stake in shares of Bancorp by 129.0% during 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. Victory Capital Management Inc. raised its position in Bancorp by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after buying an additional 25,731 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Bancorp in the 2nd quarter worth $391,000. Raymond James & Associates lifted its stake in shares of Bancorp by 55.9% in the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock worth $2,690,000 after acquiring an additional 18,027 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock valued at $121,225,000 after acquiring an additional 16,482 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

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.