Bancorp’s (TBBK) “Outperform” Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Bancorp (NASDAQ:TBBK) in a report released on Monday morning,Benzinga reports. They currently have a $67.00 target price on the bank’s stock, up from their previous target price of $60.00.

TBBK has been the subject of a number of other reports. Piper Sandler boosted their price objective on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th.

Bancorp Price Performance

Bancorp stock opened at $62.75 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. Bancorp has a 52-week low of $29.92 and a 52-week high of $64.53. The firm has a market cap of $3.01 billion, a PE ratio of 14.59 and a beta of 1.49. The company’s 50 day moving average is $55.33 and its two-hundred day moving average is $53.15.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. On average, research analysts expect that Bancorp will post 5.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after acquiring an additional 489 shares in the last quarter. R Squared Ltd purchased a new position in shares of Bancorp during the fourth quarter worth about $45,000. Point72 DIFC Ltd acquired a new stake in shares of Bancorp during the third quarter worth about $54,000. Finally, GAMMA Investing LLC increased its position in shares of Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after purchasing an additional 327 shares in the last quarter. 96.22% of the stock is currently 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.