The Bancorp, Inc. (NASDAQ:TBBK) Receives Consensus Rating of “Moderate Buy” from Brokerages

The Bancorp, Inc. (NASDAQ:TBBK) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $59.50.

Several research firms have commented on TBBK. Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings lowered shares of Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Piper Sandler assumed coverage on shares of Bancorp in a research note on Thursday, March 12th. They set an “overweight” rating and a $66.00 target price for the company.

Bancorp Price Performance

NASDAQ TBBK opened at $56.17 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $56.80 and a two-hundred day moving average of $60.04. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 10.93 and a beta of 1.21. Bancorp has a 52 week low of $50.20 and a 52 week high of $81.65.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The company had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. On average, analysts predict that Bancorp will post 5.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Maria Wainwright sold 8,400 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the sale, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at $1,502,506.08. This represents a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Erika R. Caesar sold 4,470 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the sale, the executive vice president directly owned 32,880 shares of the company’s stock, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.00% of the stock is currently owned by insiders.

Institutional Trading of Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC lifted its stake in Bancorp by 8.4% in the first quarter. Arete Wealth Advisors LLC now owns 10,984 shares of the bank’s stock worth $590,000 after acquiring an additional 850 shares during the period. Bank of America Corp DE lifted its stake in Bancorp by 104.5% in the first quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock worth $22,922,000 after acquiring an additional 218,038 shares during the period. Edgestream Partners L.P. purchased a new stake in Bancorp in the first quarter worth about $3,592,000. Janus Henderson Group PLC lifted its stake in Bancorp by 19.0% in the first quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock worth $58,296,000 after acquiring an additional 172,925 shares during the period. Finally, Amundi lifted its stake in Bancorp by 46.1% in the first quarter. Amundi now owns 12,856 shares of the bank’s stock worth $691,000 after acquiring an additional 4,059 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.