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

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research note released on Thursday.

Several other equities research analysts have also recently commented on TBBK. Raymond James reaffirmed an “outperform” rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Piper Sandler raised their target price on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Bancorp Stock Down 1.0 %

Shares of TBBK stock opened at $50.72 on Thursday. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The firm has a market capitalization of $2.43 billion, a PE ratio of 11.80 and a beta of 1.49. The stock’s 50-day simple moving average is $56.30 and its 200-day simple moving average is $54.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. Equities analysts expect that Bancorp will post 5.31 earnings per share for the current year.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new position in Bancorp in the 3rd quarter valued at about $514,000. Lord Abbett & CO. LLC lifted its position in shares of Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after purchasing an additional 56,959 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Bancorp in the third quarter valued at approximately $2,080,000. Entropy Technologies LP grew its holdings in shares of Bancorp by 175.4% in the third quarter. Entropy Technologies LP now owns 18,997 shares of the bank’s stock valued at $1,016,000 after purchasing an additional 12,100 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares during the period. 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.