Bancorp (NASDAQ:TBBK) Stock Rating Upgraded by Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a $77.00 price target on the bank’s stock, up from their prior price target of $72.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 15.79% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Finally, Piper Sandler began coverage on Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Bancorp Trading Down 0.1%

Shares of Bancorp stock opened at $66.50 on Thursday. 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 stock has a market capitalization of $2.77 billion, a P/E ratio of 12.94 and a beta of 1.19. Bancorp has a 12-month low of $50.20 and a 12-month high of $81.65. The company has a 50-day simple moving average of $57.75 and a 200 day simple moving average of $59.61.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The business had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. Research analysts expect that Bancorp will post 5.95 earnings per share for the current fiscal year.

Insider Activity at Bancorp

In other news, EVP Erika R. Caesar sold 4,470 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares of the company’s stock, valued at $1,982,006.40. This represents a 11.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Maria Wainwright sold 8,400 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the transaction, the chief marketing officer owned 24,942 shares in the company, valued at $1,502,506.08. This represents a 25.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently added to or reduced their stakes in TBBK. Osaic Holdings Inc. boosted its holdings in Bancorp by 3.7% during the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock worth $318,000 after buying an additional 197 shares during the last quarter. California State Teachers Retirement System boosted its stake in Bancorp by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 42,929 shares of the bank’s stock worth $2,446,000 after acquiring an additional 253 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Bancorp by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock worth $368,000 after acquiring an additional 267 shares during the last quarter. Cerity Partners LLC grew its holdings in Bancorp by 1.1% during the fourth quarter. Cerity Partners LLC now owns 27,518 shares of the bank’s stock valued at $1,858,000 after purchasing an additional 309 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new stake in Bancorp in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Company Profile

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.