Bancorp (NASDAQ:TBBK) Downgraded to “Sell” Rating by StockNews.com

Bancorp (NASDAQ:TBBK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Separately, Piper Sandler upped their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday.

Bancorp Stock Up 1.0 %

Bancorp stock opened at $54.52 on Friday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 13.77 and a beta of 1.48. Bancorp has a 52-week low of $29.92 and a 52-week high of $61.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The firm has a 50 day moving average price of $55.03 and a two-hundred day moving average price of $49.63.

Bancorp (NASDAQ:TBBK) last announced its 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). The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period in the prior year, the business earned $0.92 EPS. Equities analysts predict that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. The trade was a 6.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their position. 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 owned by corporate insiders.

Institutional Trading of Bancorp

Hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC acquired a new position in Bancorp during the 2nd quarter valued at about $12,757,000. JPMorgan Chase & Co. lifted its holdings in shares of Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after purchasing an additional 219,020 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after buying an additional 144,867 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in Bancorp during the third quarter worth $6,100,000. Finally, Marshall Wace LLP raised its position in 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 buying an additional 96,072 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

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.