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 research report report published on Friday.

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

Bancorp Trading Up 0.9 %

NASDAQ TBBK opened at $55.68 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 14.06 and a beta of 1.46. The business’s 50-day moving average price is $52.95 and its two-hundred day moving average price is $45.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. Bancorp has a 12 month low of $29.92 and a 12 month high of $59.46.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 EPS 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 the consensus estimate of $131.34 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, analysts expect that Bancorp will post 4.3 EPS for the current year.

Insider Activity

In other news, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the acquisition, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Maria Wainwright sold 11,357 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the sale, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock worth $1,345,366 in the last quarter. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

Large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. Blue Trust Inc. increased its position in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Bancorp during the third quarter worth about $54,000. EverSource Wealth Advisors LLC lifted its position in Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after acquiring an additional 1,272 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after purchasing an additional 741 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.