Bancorp (NASDAQ:TBBK) Stock Rating Lowered by StockNews.com

Bancorp (NASDAQ:TBBK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Bancorp Price Performance

TBBK opened at $53.31 on Thursday. Bancorp has a 52-week low of $29.92 and a 52-week high of $61.17. The company has a 50 day moving average of $55.24 and a two-hundred day moving average of $49.06. The company has a market cap of $2.56 billion, a P/E ratio of 13.46 and a beta of 1.48. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same period last year, the company posted $0.92 earnings per share. On average, analysts expect that Bancorp will post 4.3 earnings per share for the current year.

Insider Buying and Selling

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 value of $267,997.98. Following the completion of the transaction, the executive vice president now directly owns 73,114 shares in the company, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $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. Insiders have sold 26,983 shares of company stock valued at $1,345,366 in the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of large investors have recently added to or reduced their stakes in TBBK. Raymond James & Associates acquired a new position in Bancorp in the 2nd quarter worth about $1,218,000. Bailard Inc. grew its position in Bancorp by 3.0% in the second quarter. Bailard Inc. now owns 23,682 shares of the bank’s stock valued at $894,000 after acquiring an additional 700 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bancorp by 65.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,646 shares of the bank’s stock worth $666,000 after acquiring an additional 7,009 shares in the last quarter. Legend Financial Advisors Inc. raised its stake in shares of Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after acquiring an additional 380 shares during the last quarter. Finally, Whittier Trust Co. raised its position in shares of Bancorp by 6.0% during the second quarter. Whittier Trust Co. now owns 261,798 shares of the bank’s stock worth $9,883,000 after acquiring an additional 14,884 shares during the last quarter. 96.22% of the stock is currently owned by 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.